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Section PS 3410 (Revised), Government Transfers [Completed]

Effective date:

Effective for fiscal years beginning on or after April 1, 2012

Transitional provisions:

Effective for fiscal years beginning on or after April 1, 2012. Prospective or retroactive application of the revised standard will be permitted.

Last updated:

September 2014


The new standard provides guidance for accounting and reporting government transfers from both a transferring government and a recipient government perspective. It clarifies the difference between eligibility criteria and stipulations and their roles in the recognition of government transfers by the transferring and recipient government. It also explains how the definition of liabilities in Section PS 3200, Liabilities, should apply to the recognition of government transfers by a recipient government and  addresses what evidence would be required to support the authorization of a government transfer from the perspective of the transferring government.

With the issuance of this new Government Transfers standard, governments will not be allowed to apply guidance in Section PS 3100, Restricted Assets and Revenues, for reporting government transfers.

Other developments

March 2014

At its meeting on March 20-21, 2014, the PSAB received a report from its Subcommittee and discussed their recommendation to gather additional information from stakeholders.

December 2014

At its meeting on December 12-13, 2013, the PSAB discussed a number of options for addressing the issues of authorization and revenue recognition in light of the recent PSA Discussion Group meeting. The PSAB agreed to form a Subcommittee comprising PSAB members to review the facts and related interpretations involved in these issues. The Subcommittee will recommend a course of action to the Board.

April 2011

In April 2011, PSAB published a Basis for Conclusions document with respect to PS 3410 (Revised).

December 2010

In December 2010, PSAB approved a final standard to replace existing Section PS 3410, Government Transfers.

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