The new guidance is expected to have an impact on entities that prepare financial statements in accordance with Accounting Standards for Private Enterprises (ASPE) or Accounting Standards for Not-for-Profit Organizations (ASNPO) as they will need to revise their existing accounting policies for measuring financial instruments in a related party transaction.
The amendments are effective for fiscal periods beginning on or after January 1, 2021.
This publication provides a summary of the main amendments. However, it does not deal with all aspects of the accounting for financial instruments in related party transactions. Readers are encouraged to refer to Section 3856 before making any decisions.
This publication provides a summary of the main amendments. However, it does not deal with all aspects of the accounting for financial instruments in related party transactions.
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