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Section 3290 - Contingencies

Effective date:

January 1, 2011

Published by the AcSB:

December 2009


This Section establishes standards for the treatment of contingencies in financial statements. The issues discussed concern both the accrual for and the disclosure of contingencies in presenting the financial position and results of operations of an enterprise. (With reference to contingencies involving related parties, see also Section 3840 Related party transactions. With reference to disclosures about guarantees, see Accounting Guideline AcG-14 Disclosure of guarantees.)

History of Section 3290




December 2009

Part II of the CPA Canada Handbook issued

Effective for fiscal years beginning on or after January 1, 2011.

Note: The above summary does not include details of consequential amendments made as the result of other projects.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.