Directive on Accounting Standards: GC 4300 Non-Monetary Transactions

Supports the Public Sector Accounting Handbook (PSAH) in stating the Government's accounting policies for non-monetary transactions.
Date modified: 2017-04-01
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This document is part of the Appendix A of the Directive on Accounting Standards.

A. Primary PSAS reference

  • N/A

B. Effective date

C. Government of Canada Consolidated Financial Statements

  1. Departments must establish procedures to ensure that:
    • Non-monetary transactions which take place between the Government of Canada and an outside party, such as a Crown corporation or the private sector, are charged to their appropriation and are accounted for in the accounts of Canada as if they were monetary transactions when their fair value exceeds one hundred thousand dollars ($100,000);
    • Non-monetary transactions within the Government of Canada which take place between programs are accounted for in the accounts of Canada in a manner consistent with the Directive on Charging and Special Financial Authorities when their fair value exceeds one hundred thousand dollars ($100,000); and
    • A clear audit trail exists for all non-monetary transactions, regardless of whether they are subject to the accounting requirements of this policy.
  2. For purposes of this policy, the one hundred thousand dollar ($100,000) limit mentioned above applies to: single transactions; the total fair value of a group of related transactions; and the present value of a series of related transactions which occur over a number of years.

D. Other related references

  • PS 3150 Tangible capital assets
  • GC 3150 Tangible Capital Assets
  • PS 3410 Government transfers
  • GC 3410 Government Transfers
  • PS 3420 Inter-entity transactions
  • PS 2200 Related party disclosures
  • Directive on Charging and Special Financial Authorities
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