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ASPE briefing: Section 3400, Revenue. In December 2019, the Accounting Standards Board (AcSB) issued amendments to Section 3400, Revenue in Part II of the CPA Canada Handbook – Accounting. Learn more about the amendments in our briefing.
December 2021 Amendments to ASPE Section 3400 Revenue Includes amendmends effective for annual periods beginning on or after January 1, 2022. Early application is permitted. This communication contains a general overview of the topic and is current as of December 1, 2021.
This amendment defers the effective date for the application guidance of upfront non-refundable fees or payments from fiscal years beginning on or after January 1, 2022, to fiscal years beginning on or after January 1, 2025.
This publication gives a high-level overview of Handbook Section 3400, Revenue, in Part II of the CPA Canada Handbook – Accounting. The publication provides guidance on: recognition and measurement of revenue, including revenue from the sale of goods. rendering of services.
Jun 1, 2021 · This Section establishes standards for the timing of recognition of revenue in the financial statements of enterprises. It is concerned with the recognition of revenue arising in the course of the ordinary activities of an enterprise from the sale of goods, the rendering of services, and the use by others of enterprise resources yielding ...
The amendments to Section 3400 provide criteria clarifying how to identify the unit of account in a revenue transaction and additional guidance on the following revenue topics: percentage of completion method. multiple-element arrangements. reporting revenue gross or net. bill and hold arrangements.
The amendments to Section 3400 provide additional guidance on the following topics: • Percentage of completion method. • Multiple-element arrangements. • Reporting revenue gross or net. • Bill and hold arrangements, and • Upfront non-refundable fees/ payments. With limited exceptions, these amendments
The AcSB issued amendments to Section 3400, Revenue to indefinitely defer the effective date of application guidance for upfront non-refundable fees or payments that were issued in December 2019. Earlier application is permitted, including in financial statements not yet authorized for issue.
May 13, 2020 · In December 2019, the Accounting Standards Board (AcSB) issued amendments to Section 3400, Revenue in Part II of the CPA Canada Handbook – Accounting. Learn more about the amendments in our briefing.
May 14, 2024 · The AcSB has issued amendments to ASPE Section 3400 Revenue (the “Amended Guidance”), to provide more robust guidance to support the application of the existing risk-and-rewards revenue model, which differs from the control-based model used under IFRS and U.S. GAAP post-2018.
