Download PDF (619 ko )FSST and CSST Financial Statements 2007

c) Intangible assets
Intangible assets are presented at their original cost and depreciated in proportion to their estimated
useful life, according to the straight-line depreciation method, at the following annual rates:
Software 20%
Computer systems development 20%
d) Impairment of Assets
Tangible assets are regularly examined by management to determine whether their value incurred a
loss when events or changing circumstances suggest that their carrying value might not be recoverable.
Impairment is assessed by comparing the carrying value of an asset with undiscounted future
cash flows estimated at use and with its residual value. If the value of the assets is considered
impaired, the impairment is allocated to the results for the period during which it is determined.
The impairment represents the difference between the carrying value and the fair value of the asset.
The estimate of future cash flows is a matter of professional judgement and may vary over time.
e) Pension plans
The accounting method used for defined contribution pension plans is applied to government
inter-enterprise defined benefit plans, since the CSST does not have enough information to apply
the accounting method for defined benefit plans.
f) Future accounting policy changes
During the next fiscal year, the CSST will apply the new recommendations of the Canadian Institute
of Chartered Accountants (CICA) with respect to the following sections:
CSST Financial Statements
3862 – Financial Instruments – Disclosure
3863 – Financial Instruments – Presentation
The aim of these sections is to provide users with information that allows them to assess the
significance of financial instruments for the entity’s financial position and performance. They also
allow users to assess the nature and extent of risks arising from financial instruments to which
the entity is exposed and the way it manages these risks. These sections replace CICA Handbook
Section 3861, Financial Instruments – Disclosure and Presentation. Disclosure requirements are
revised and enhanced, while presentation requirements remain essentially unchanged. These sections
specifically target disclosure and will have no impact on the CSST’s income.
3. Accounting Change
As of the current fiscal year, the CSST is applying the new Canadian Institute of Chartered Accountants
recommendations relating to the recognition, measurement and presentation of financial instruments,
in advance, retrospectively and without restatement of prior periods, further to the publication of
Section 1530 – Comprehensive Income, Section 3855, Financial Instruments – Recognition and
Measurement, Section 3861 – Financial Instruments – Disclosure and Presentation and, lastly,
Section 3865 – Hedges. For the CSST, the impact of these new accounting policies is limited solely
to the disclosure of additional information, given that the categories adopted by the CSST had no
impact on the measurement of financial instruments. These categories are explained in Note 2 a).
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