What are the implications of adopting accounting standards for private enterprises for an enterprise that previously followed AcG-18, Investment Companies?
AcG-18 has been carried forward to the accounting standards for private enterprises largely unchanged. Under AcG-18 an enterprise that is a separate legal entity and meets all the criteria in paragraph 9 measures its investments at fair value. In addition to the disclosures in AcG-18, the disclosure requirements of Section 3856 must be met.
Related Questions
- If an enterprise concludes that it has no significant accounting policy changes on adoption of accounting standards for private enterprises, what sort of disclosure should it make on adoption?
- What is the effective date of accounting standards for private enterprises (ASPE)? When is the earliest that an enterprise can adopt these standards?
- What are the accounting consequences of revaluing property, plant and equipment on adopting accounting standards for private enterprises?