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Section PS 3060 - Government partnerships

Effective date:

October 1, 1999

Published by the PSAB:

October 1999

Reach out to our Section PS 3060 Specialist

Martin Roy

Overview

This Section defines a government partnership and establishes standards on how to account for and report a government's interest in government partnerships in government financial statements, regardless of the structures and forms under which the government partnership activities take place.

The modified equity basis of accounting is applied to account for the government’s share of government business partnerships. Proportionate consolidation is applied to all other government partnerships.

History of Section PS 3060

Date

Development

Comments

October 1999

New Section

This new Section defines a government partnership and a government business partnership and outlines Recommendations that deal with how to account for and report a government's interest in government partnerships in the government's summary financial statements.

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

Public Sector Accounting Discussion Group meetings

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.