At its meeting on September 28-29, 2023, the PSAB approved the Exposure Draft, “Tangible Capital Assets, Proposed Amendments to Section PS 3150” and accompanying Basis for Conclusions. The Board expects to issue the document in December 2023 with comments due by April 2024. This project is the first in a series of standard-level projects to implement the Board’s GNFP Strategy. It focuses on proposing amendments to Section PS 3150, Tangible Capital Assets, as a result of reviewing Section PS 4230, Capital Assets Held by Not-for-Profit Organizations, and Section PS 4240, Collections Held by Not-for-Profit Organizations. The proposed amendments will be applicable to all public sector entities. For those entities applying the PS 4200 series, Sections PS 4230 and PS 4240 will be withdrawn from the CPA Canada Public Sector Accounting (PSA) Handbook once Section PS 3150 is applied.

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