2014 annual improvements to accounting standards for private enterprises

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Paragraph .42 of section 3856, Financial Instruments, has been amended in particular to clarify that disclosure of the carrying amount of impaired financial assets is required for financial assets other than current trade receivables. These amendments are effective for annual financial statements relating to fiscal years beginning on or after January 1, 2015. Earlier application is permitted. See all the changes in the CPA Canada Handbook

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