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PSAB

PSAB. INTRODUCTION. WHAT IS PSAB CAPITAL ASSETS – DEFINITION TIMEFRAME. PSAB CHANGES. CHANGES FOR FINANCIAL STATEMENTS CHANGES FOR BUDGETING PROCESS. BUDGETING . TODAY UNDER THE NEW PSAB RULES RECONCILIATION OF THE APPROACHES. CAPITAL ASSETS. HISTORICAL COST FULLY AMORTIZED ASSETS

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PSAB

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  1. PSAB

  2. INTRODUCTION • WHAT IS PSAB • CAPITAL ASSETS – DEFINITION • TIMEFRAME

  3. PSAB CHANGES • CHANGES FOR FINANCIAL STATEMENTS • CHANGES FOR BUDGETING PROCESS

  4. BUDGETING • TODAY • UNDER THE NEW PSAB RULES • RECONCILIATION OF THE APPROACHES

  5. CAPITAL ASSETS • HISTORICAL COST • FULLY AMORTIZED ASSETS • THRESHOLDS - MATERIALITY • BETTERMENTS • CONTRIBUTED ASSETS • POOLING • COMPONENT • AMORTIZATION RATES/METHODS • LEASES • POTENTIAL PROBLEM AREAS

  6. HOW TO GET READY • CAPITAL ASSETS INVENTORY • STAFF TRAINING AND SUPPORT • DOCUMENTATION • WATCH FOR THE PITFALLS • KEEP AUDITOR INFORMED OF ALL CRITICAL DESIONS • SOFTWARE

  7. INFORMATION SOURCES • OMBI • MFOA, AMCTO • AUDITOR • CICA • MAH

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