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Section PS 3041 - Portfolio investments

Effective date:

(i) Government organizations – April 1, 2012; and (ii) Governments – April 1, 2019. Earlier adoption is permitted.

Published by the PSAB:

March 2012 except for subsequent amendments



This Section establishes standards on how to account for and report portfolio investments in government financial statements.

Portfolio investments are investments in organizations that do not form part of the government reporting entity. Such investments are normally in equity instruments or debt instruments issued by the investee.

Unless a portfolio investment contains significant concessionary terms, it is recognized and measured in accordance with Section PS 3450 Financial Instruments.

When there has been a loss in value of a portfolio investment that is other than a temporary decline, the investment should be written down to recognize the loss. The write-down should be included in the statement of operations. In the case of an item in the fair value category, a reversal of any net remeasurements should be reported in the statement of remeasurement gains and losses.

History of Section PS 3041




March 2012

New Section

This Section revises and replaces Section PS 3040 Portfolio investments, Section and Section PS 3030 Temporary Investments. It is effective for (i) government organizations for fiscal years beginning on or after April 1, 2012; and (ii) governments for fiscal years beginning on or after April 1, 2015. Earlier adoption is permitted. Sections PS 1201 Financial statement presentation, PS 2601 Foreign Currency translation and PS 3450 Financial instruments, are to be adopted at the same time.

March 2014

Revised transitional provisions

The transitional provisions have been amended to extend the effective date for governments by three years to fiscal years beginning on or after April 1, 2019. Earlier adoption is permitted.

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.