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AcSB Exposure Draft – Accounting for Related Party Financial Instruments and Significant Risk Disclosures – Proposed Amendments to Section 3856, Financial Instruments

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Oct 31, 2017

On October 31, 2017, the Accounting Standards Board (AcSB) issued an Exposure Draft proposing amendments to Section 3856, related to the accounting for financial instruments between related parties and significant risk disclosures. Stakeholders are encouraged to submit their comments by January 29, 2018.

The scope of Section 3856 would be amended to make clear that the Section would apply to the initial and subsequent measurement, derecognition, presentation and disclosure of related party financial instruments.

Guidance on how NFPOs initially measure related party financial instruments would be added to Section 3856.

Review the Exposure Draft on the AcSB's website.

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