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PSAB issues materials relating to understanding the new Revenue standard, PS 3400

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Nov 15, 2018

On No­vem­ber 15, 2018, the Pub­lic Sec­tor Accounting Board (PSAB) is­sued various materials to assist stakeholders in understanding its new Revenue standard, PS 3400. These include the Basis of Conclusions, two In Brief documents and a podcast. Section PS 3400, Revenue, will apply to fiscal years beginning on or after April 1, 2022. Earlier adoption is permitted.

Details of the materials issued by the PSAB are as follows:

Basis for Conclusions ─ Revenue
This document sets out how the PSAB reached its conclusions and includes discussion of significant matters arising from comments received and issues raised in response to its proposals exposed.

In Brief – PSAB’s New Standard on Revenue
The In Brief provides a plain and simple overview of the recently approved new standard.

In Brief – New Revenue Standard’s Impact on Local Governments
The In Brief provides a plain and simple overview of how PSAB’s new standard on Revenue impacts local governments.

Podcast – PSAB’s New Standard on Revenue
In this podcast, Mike St. Amant, Member of the PSAB’s Revenues Task Force, gives a plain and simple overview of this new standard.

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