ASPE Update 2014

January 10, 2014

During 2014, a number of changes were made to or proposed for Part II of the CPA Canada Handbook – Accounting: Accounting Standards for Private Enterprises (ASPE). Some of these changes are a result of the Accounting Standards Board’s (AcSB’s) fourth Annual Improvements Process. In addition, new Section 3462, Employee Future Benefits, an amendment to Section 3475, Disposal of Long-lived Assets and Discontinued Operations, and amendments to various sections resulting from the 2013 Annual Improvements process became effective in 2014. Three major improvements were also made to ASPE during the year: new Section 1591, Subsidiaries, and new Section 3056, Interests in Joint Arrangements, were issued and amendments were made to Section 3051, Investments. This publication will discuss the above changes and will conclude with a discussion on projects the AcSB currently has in progress.

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