Government Transfers - Deloitte

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What is a financial instrument Definition • contractual arrangement between two or more parties • gives rise to financial assets of one entity and financial liabilities or equity instruments of another entity Excluded • does not apply to transactions that are not contractual in their nature, such as taxes, grants and transfers Examples • accounts receivable and payable • loans receivable and payable • debt instruments • equity instruments • derivatives
Derivatives and Embedded Derivatives Derivatives •Characteristics: •Value changes with underlying variable •Requires little or no initial net investment •Settled at a future date •Examples: •Interest rate swaps •Forward contracts •Cross currency swaps •Written options •Purchased options Embedded Derivatives • Component within contract • Accounted for separately if: •Not closely related to host contract •Would meet the definition of a derivative •Host contract is not accounted for at fair value •Possible examples: •Contract denominated in foreign currency •Contract pricing linked to index
Page 1 and 2: PLEASE NOTE: The audio for today’
Page 3 and 4: Polling Question 1 What is your cur
Page 5 and 6: New PSA Standards Topic Financial S
Page 7 and 8: PSAB projects Amalgamations and Res
Page 9 and 10: Related Party Transactions (RPTs)-
Page 11 and 12: Conceptual framework
Page 13 and 14: Conceptual Framework Why Revising F
Page 15 and 16: Key characteristics of public secto
Page 17: Financial instruments
Page 21 and 22: Foreign currency translation Unreal
Page 23 and 24: Effective interest method • The e
Page 25 and 26: Statement of Remeasurement Gains an
Page 27 and 28: Financial instruments - risk disclo
Page 29 and 30: Government transfers
Page 31 and 32: Government Transfers, PS 3410 - New
Page 33 and 34: What is a government transfer Trans
Page 35 and 36: Government transfers- transferring
Page 37 and 38: Authorization Expanded guidance and
Page 39 and 40: Government transfers - recipients S
Page 41 and 42: Conclusions New standard clarifies
Page 43 and 44: Transition to PSA standards
Page 45 and 46: Timeline - first time adoption by G
Page 47 and 48: Financial Instruments - transition
Page 49 and 50: Frequently asked questions - financ
Page 51 and 52: Restatement of comparative figures
Page 53 and 54: First time adoption - PS 2125 optio
Page 55 and 56: Lessons learned (continued) Obtain
Page 57: Questions Paula Jesty Partner pjest

Government Transfers - Deloitte

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