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Exposure Draft – Financial Instruments – Narrow scope amendments

  • PSAS - PSAB Image

Jul 30, 2020

On July 30, 2020, the Public Sector Accounting Board (PSAB) issued two Exposure Drafts on the presentation of derivatives and recognizing exchange gains and losses.

Exposure Draft –  Financial Instruments – Presentation Narrow Scope Amendments

PSAB proposes specific amendments to clarify the presentation of derivatives. The proposal would amend Section PS 1201, Financial Statement Presentation. Comments are requested by October 28, 2020.

Exposure Draft – Financial Instruments – Foreign Exchange Narrow Scope Amendments

PSAB proposes specific amendments to allow all public sector entities to recognize exchange gains and losses directly in the statement of operations. Comments are requested by October 28, 2020.

The proposal would amend the following sections: 

  • Section PS 1201, Financial Statement Presentation
  • Section PS 2601, Foreign Currency Translation
  • Section PS 3450, Financial Instruments

 

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