There were no new Accounting Standards for Private Enterprises (ASPE) that became effective in 2023. However, there are new standards and amendments that will become effective in 2024 and beyond.
This publication provides more details about the following:
- AcG-20, Customer’s Accounting for Cloud Computing Arrangements
- Amendments to Section 3840, Related Party Transactions and Section 3856, Financial Instruments
There is also an overview of the Accounting Standards Board’s ongoing projects that will affect private sector entities.