Government Transfers - Deloitte
Government Transfers - Deloitte
Government Transfers - Deloitte
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Authorization<br />
Expanded guidance and clarification provided<br />
Generally the exercise of authority (final approval) by the financial statement date<br />
required<br />
New standard allows for an earlier point of recognition based the concept of<br />
“demonstrable commitment” at the financial statement date with final approval in the<br />
stub period<br />
Reference to constructive obligation in the PS3200<br />
<strong>Government</strong> has “loss of discretion” to avoid proceeding with the transfer<br />
Earlier point of recognition only applicable to transferring government
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