The attached memorandum summarizes Canadian GAAP pronouncements that must be applied, if applicable, for the first time to a calendar year-end company that is preparing financial statements in accordance with Canadian GAAP. This newsletter sets out new requirements by the calendar year in which they are first effective. Developments relate to Canadian GAAP as set out in the following parts of the CICA Handbook:
Part II - Private Enterprises
Part III - Not-for-profit Organizations
Part IV - Pension Plans
This ACS newsletter supersedes the information in our previous newsletter and will be updated quarterly. Developments since the previous newsletter, if any, are highlighted in yellow.
While we have attempted to make this newsletter as complete as possible, it may not include all changes or modifications to existing authoritative literature that may affect a particular enterprise.