Government Transfers - Deloitte
Government Transfers - Deloitte
Government Transfers - Deloitte
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Restatement of comparative figures<br />
• Context: <strong>Government</strong> organizations that adopt Section PS<br />
3450 and Section 2601 in their first PSA compliant financial<br />
statements<br />
• Applicable timeline:<br />
– government organizations - beginning of the fiscal year<br />
that begins on or after January 1, 2011<br />
– government not-for-profit organizations - beginning of<br />
the fiscal year that begins on or after January 1, 2012<br />
• The balances in the opening statement of financial position<br />
and the comparative figures in their first PSA financial<br />
statements will be based on the accounting policies they<br />
follow for Financial Instruments and Foreign Currency<br />
Translation prior to their transition to the PSA Handbook.
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