At its meeting on June 25, 2020, the PSAB reviewed the responses to the November 2019 Exposure Draft and the analysis of responses. Most respondents supported recognizing purchased intangibles in financial statements. However, comments included: (i) suggestions for adding clarifications or basic accounting guidance; and (ii) requests for a full intangibles project. The Board considered various options to respond to the comments within the narrow-scope amendment mandate of the project. The PSAB asked staff to draft a Public Sector Guideline as interim guidance to clarify the changes proposed in the Exposure Draft to Section PS 1000, Financial Statement Concepts, Section PS 1100, Financial Statement Objectives, and Section PS 1201, Financial Statement Presentation. The Board expects to approve the CPA Canada Public Sector Accounting Handbook material in the fall of 2020.

Review the Executive Summary on the PSAB's Web site.

At its meeting on June 25, 2020, the PSAB reviewed the following: (i) the exposure draft for the proposed conceptual framework and the accompanying basis for conclusions document; and (ii) the exposure draft for the proposed revised reporting model (i.e., a proposed revised financial statement presentation standard) and the accompanying basis for conclusions document. The Board provided its feedback to the Concepts Underlying Financial Performance Task Force for consideration. The PSAB will receive the revised documents at its September 2020 meeting. The Board will also receive an update on the development of two exposure drafts for proposed consequential amendments (one related to the proposed conceptual framework and another related to the proposed revised reporting model).

Review the Executive Summary on the PSAB's Web site.

At its meeting on June 25, 2020, the PSAB reviewed the following: (i) the exposure draft for the proposed conceptual framework and the accompanying basis for conclusions document; and (ii) the exposure draft for the proposed revised reporting model (i.e., a proposed revised financial statement presentation standard) and the accompanying basis for conclusions document. The Board provided its feedback to the Concepts Underlying Financial Performance Task Force for consideration. The PSAB will receive the revised documents at its September 2020 meeting. The Board will also receive an update on the development of two exposure drafts for proposed consequential amendments (one related to the proposed conceptual framework and another related to the proposed revised reporting model).

Review the Executive Summary on the PSAB's Web site.