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Section 1591 - Subsidiaries
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This Section establishes standards for subsidiaries in the general purpose financial statements. It provides guidance on when one enterprise "controls" another enterprise such that the other enterprise qualifies as a "subsidiary". |
The amendments are effective for annual financial statements relating to fiscal years beginning on or after January 1, 2020. Earlier application is permitted. |
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Section 3251 - Equity
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This Section establishes standards for the presentation of equity and changes in equity during the reporting period. The requirements of this Section are in addition to those in Section 3240, Share capital, and Section 3260, Reserves. |
The amendments are effective for annual financial statements relating to fiscal years beginning on or after January 1, 2020. Earlier application is permitted. |
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Section 3051 - Investments
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This Section establishes standards for (1) investments subject to significant influence; and (2) measuring and disclosing certain other non-financial instrument investments (such as works of art and other tangible assets held for investment purposes).
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Effective January 1, 2011, except for subsequent amendments. The effective date of the amendments have been deferred by one year to fiscal years beginning on or after January 1, 2021. Earlier application continues to be permitted. |
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Section 3465 - Income taxes
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This Section establishes standards for the recognition, measurement, presentation and disclosure of income and refundable taxes in an enterprise's financial statements. |
Effective January 1, 2011, except for subsequent amendments. The effective date of the amendments have been deferred by one year to fiscal years beginning on or after January 1, 2021. Earlier application continues to be permitted. |
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Section 3856 - Financial instruments
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This Section establishes principles for the financial reporting of financial assets and financial liabilities that will present relevant and useful information to users of financial statements for their assessment of the amounts, timing and uncertainty of an entity's future cash flows. |
Effective January 1, 2011, except for subsequent amendments. The effective date of the amendments have been deferred by one year to fiscal years beginning on or after January 1, 2021. Earlier application continues to be permitted. |
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Section 3041 - Agriculture
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This Section sets out the principles for the recognition, measurement and disclosure of agricultural inventories and productive biological assets. |
Effective for fiscal years beginning on or after January 1, 2022 (was for fiscal years beginning on or after January 1, 2021), with earlier application permitted. |
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Section 3400 - Revenue
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This Section establishes standards for the timing of recognition of revenue in the financial statements of enterprises. It is concerned with the recognition of revenue arising in the course of the ordinary activities of an enterprise from the sale of goods, the rendering of services, and the use by others of enterprise resources yielding interest, royalties and dividends. It does not deal with the measurement of revenue, which is usually determined by agreement between the parties involved. |
Effective January 1, 2011, except for subsequent amendments. The effective date of the amendments have been deferred by one year to fiscal years beginning on or after January 1, 2022. Earlier application continues to be permitted. |
