PSAS standards effective in 2018 and beyond | Deloitte CFR
| Title | Description | Effective Date |
|---|---|---|
| Section PS 2200 - Related party disclosures | This Section defines a related party and establishes disclosures required for related party transactions. | This Section applies to fiscal years beginning on or after April 1, 2017. Earlier adoption is permitted. |
| Section PS 3210 - Assets | This Section provides guidance for applying the definition of assets and establishes general disclosure standards for assets; but does not include standards for recognition and disclosure of specific types of assets, which are dealt with in other Handbook Sections. | Fiscal years beginning on or after April 1, 2017. Earlier adoption is permitted. |
| Section PS 3320 - Contingent assets | This Section defines and establishes disclosure standards on contingent assets; but does not include disclosure standards for specific types of contingent assets. | This Section applies to fiscal years beginning on or after April 1, 2017. Earlier adoption is permitted. |
| Section PS 3380 - Contractual rights | This Section defines and establishes disclosure standards on contractual rights; but does not include disclosure standards for specific types of contractual rights; and does not include those contractual rights to exchange one asset for another where revenue does not arise. | Fiscal years beginning on or after April 1, 2017. Earlier adoption is permitted. |
| Section PS 3420 - Inter-entity transactions | This Section establishes standards on how to account for and report transactions between public sector entities that comprise a government's reporting entity from both a provider and recipient perspective. | This Section applies to fiscal years beginning on or after April 1, 2017. Earlier adoption is permitted. |
| Section PS 4260 - Disclosure of related party transactions by not-for-profit organizations | This Section establishes disclosure standards for related party transactions in the financial statements of not-for-profit organizations. | The PSAB intends that, for NFPOs that apply the PSA Handbook with Sections PS 4200 to PS 4270 to prepare their financial statements, Section PS 2200 will apply to fiscal years beginning on or after April 1, 2017. Earlier adoption is permitted. Section PS 2200 is to be applied prospectively. The PSAB issued the filing instruction to withdraw Section PS 4260 from the PSA Handbook in December 2016. |