This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice (http://www2.deloitte.com/ca/en/legal/cookies.html) for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

Post-implementation Review of Financial Instruments - PEAC

Date recorded:

At its meeting on June 14, 2016, the Private Enterprise Advisory Committee (PEAC) discussed the feedback to the “Post-implementation Review of Section 3856, Financial Instruments”. It agreed to suggest to the AcSB that the following issues merit being added to the AcSB’s project plan and addressed through either a major project or a narrow-scope amendment: (i) issues associated with the following related parties items should be dealt with concurrently: (a) scope of accounting for related party financial assets and financial liabilities after initial recognition; (b) measuring related party compound financial instruments; (c) classification of impairment and forgiveness of related party loans; and (d) challenges in determining the carrying amount or exchange amount of newly issued related party financial instruments; (ii) classification of certain instruments as either equity or financial liabilities; and (iii) some disclosure requirements. The Committee also agreed to suggest to the AcSB that the following issues be researched further: (i) initial measurement of financial instruments with non-market conditions or uncertain cash flows; and (ii) determination of fair value for some financial assets (including mutual or pooled funds). The Committee noted that the latter issue is prevalent with not-for-profit organizations and, accordingly, suggested that it be raised with the Not-for-Profit Advisory Committee at its next meeting.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.