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AcSB Decision Summary – November 24, 2015 - Redeemable Preferred Shares

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Dec 04, 2015

On December 4, 2015, the Accounting Standards Board (AcSB) released an executive summary of discussions and decisions with respect to the topics addressed at this meeting.

At its meeting on November 24, 2015, the AcSB continued its deliberations and, in particular, discussed next steps in response to the comment letters and roundtable discussions on the Exposure Draft, Redeemable Preferred Shares Issued in a Tax Planning Arrangement. The AcSB agreed that alternatives to the manner in which the classification exception is described in Financial Instruments, paragraph 3856.23, should be explored. To facilitate the development of alternatives, the AcSB directed the staff to further analyze the scope of the exception and the characteristics of inter-generational transfers.

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

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