ASPE Alert: Amendment to Section 3400, Revenue
Learn about the November 2022 amendment to Section 3400, Revenue, under accounting standards for private enterprises (ASPE) in Part II of the CPA Canada Handbook – Accounting.
On November 15, 2022, the Accounting Standards Board (AcSB) issued an amendment to Section 3400, Revenue in Part II of the CPA Canada Handbook – Accounting. 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 CPA Canada Financial Reporting Alert highlights the amendments to Section 3400 and related implications.
For more information about the amendments to Section 3400, please refer to the May 2021 ASPE briefing: Section 3400, Revenue.