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Public Sector Accounting Standards (PSAS) | Deloitte CFR

You can find more about each of the standards that form part of the Public Sector Accounting Standards by selecting the standard you are interested in from the following table or from the left navigation where we have categorized the standards by broad categories.

Title Description Effective Date
Section PS 3050 - Loans receivable This Section establishes standards on how to account for and report loans receivable in government financial statements. The standards apply to loans to borrowers outside of the government reporting entity. This Section applies to federal, provincial and territorial governments for fiscal years beginning on or after April 1, 1993. Earlier adoption is encouraged.
Section PS 3060 - Government partnerships 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. This Section applies to federal, provincial and territorial governments for fiscal years beginning on or after October 1, 1999. Earlier adoption is encouraged.
Section PS 3070 - Investments in government business enterprises This Section establishes standards on how to account for and report investments in government business enterprises in government financial statements by the modified equity method of accounting. This Section applies to federal, provincial and territorial governments for fiscal years beginning on or after April 1, 2000. Earlier adoption is encouraged.
Section PS 3100 - Restricted assets and revenues This Section establishes standards on how to account for and report restricted assets and revenues in government financial statements. This Section applies to federal, provincial and territorial governments for fiscal years beginning on or after June 1, 1997. Earlier adoption is encouraged.
Section PS 3150 - Tangible capital assets This Section establishes standards on how to account for and report tangible capital assets in government financial statements. This Section applies to federal, provincial and territorial governments for fiscal years beginning on or after September 1, 1997. Earlier adoption is encouraged.
Section PS 3200 - Liabilities This Section provides guidance for applying the definition of liabilities set out in Section PS 1000, Financial statement concepts, and establishes general recognition and disclosure standards for liabilities. Effective for fiscal years beginning on or after September 1, 2004.
Section PS 3230 - Long-term debt This Section establishes standards on how to account for and report long-term debt in government financial statements, including debt issued on behalf of a government business enterprise. This Section applies to federal, provincial and territorial governments for fiscal years beginning on or after March 1, 1997. Earlier adoption is encouraged.
Section PS 3250 - Retirement benefits This Section establishes standards on how to account for and disclose events occurring between the financial statement date and the date of their completion. This Section applies to federal, provincial and territorial governments for fiscal years beginning on or after September 1, 2001. Earlier adoption is encouraged.
Section PS 3255 - Post-employment benefits, compensated absences and termination benefits This Section establishes standards on how to account for and report obligations for post-employment benefits, compensated absences and termination benefits in government financial statements. This Section applies to federal, provincial and territorial governments for fiscal years beginning on or after January 1, 2004. Earlier adoption is encouraged.
Section PS 3260 - Liability for contaminated sites This Section establishes standards on how to account for and report a liability associated with the remediation of contaminated sites. Effective for fiscal years beginning on or after April 1, 2014. Earlier adoption is encouraged.
Section PS 3270 - Solid waste landfill closure and post-closure liability [Superseded] This Section establishes standards on how to account for and report the liability for closure and post-closure care of a solid waste landfill site in government financial statements. This Section applies to federal, provincial and territorial governments for fiscal years beginning on or after February 1, 1998. Earlier adoption is encouraged. As a consequence of the issuance of Section PS 3280, Section PS 3270 has been withdrawn. Section PS 3270 will remain in effect until the adoption of Section PS 3280 for fiscal periods beginning on or after April 1, 2021, unless a public sector entity elects earlier adoption.
Section PS 3280 - Asset retirement obligations This Section establishes standards on how to account for and report a liability for asset retirement obligations. Effective April 1, 2021, earlier application is permitted.
Section PS 3300 - Contingent liabilities This Section defines and establishes standards on how to account for and report contingent liabilities in government financial statements. Effective for fiscal years beginning on or after September 1, 2004.
Section PS 3310 - Loan guarantees This Section establishes standards on how to account for and report government loan guarantees in government financial statements. This Section applies to federal, provincial and territorial governments for fiscal years beginning on or after June 1, 1995. Earlier adoption is encouraged.
Section PS 3390 - Contractual obligations This Section defines and establishes disclosure standards on contractual obligations in government financial statements. Effective for fiscal years beginning on or after September 1, 2004.
Section PS 3400 - Revenue This Section establishes standards on how to account for and report on revenue. Specifically, it differentiates between revenue arising from transactions that include performance obligations and transactions that do not have performance obligations. Effective for fiscal years beginning on or after April 1, 2022. Earlier adoption is permitted. The Section may be applied retroactively or prospectively.
Section PS 3410 - Government transfers This Section establishes standards on how to account for and report government transfers to individuals, organizations and other governments from both a transferring government and a recipient government perspective. Effective for fiscal years beginning on or after April 1, 2012, Earlier adoption is encouraged.
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 3450 - Financial Instruments This Section establishes standards on how to account for and report all types of financial instruments including derivatives. This section is effective for: (i) Government organizations - April 1, 2012 (ii) Governments – April 1, 2021. Earlier adoption is permitted.
Section PS 3510 - Tax revenue This Section establishes recognition, measurement, presentation and disclosure standards relating to tax revenue reported in financial statements. This new Section establishes recognition, measurement, presentation and disclosure standards relating to tax revenue reported in financial statements.

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.