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Section PS 3380 - Contractual rights

Effective date:

Fiscal years beginning on or after April 1, 2017. Earlier adoption is permitted.

Published by PSAB:

June 2015

Overview

This Section:

  1. defines and establishes disclosure standards on contractual rights; but
  2. does not include disclosure standards for specific types of contractual rights; and
  3. does not include those contractual rights to exchange one asset for another where revenue does not arise.

Contractual rights are rights to economic resources arising from contracts or agreements that will result in both an asset and revenue in the future.

History of Section PS 3380

Date

Development

Comments

June 2015

New Section

This new Section defines and establishes disclosure standards on contractual rights. Disclosure of information about contractual rights is required including description about their nature and extent and the timing.

This Section applies to fiscal years beginning on or after April 1, 2017. 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.