Purchased Intangibles – PSAB

Date recorded:

At its meeting on September 25, 2020, the PSAB approved narrow-scope amendments to Section PS 1000 and Section PS 1201. It also approved a new Public Sector Guideline 8, Purchased Intangibles, which allows recognition in financial statements of intangibles purchased through an exchange transaction. The effective date is April 1, 2023, although earlier adoption is allowed and encouraged. Application may be retroactive or prospective.

Review the executive summary on the PSAB's Web site.

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.