4.2 Financial reporting accounts: Equity / deficit—Detailed for 2016 to 2017

The financial reporting accounts used for government-wide reporting purposes are included in this section. Financial reporting accounts identify the relevant asset, liability, equity, revenue and expense accounts required for financial reporting (maintaining accounts in a general ledger) and for preparing financial statements.

4.2 Financial reporting accounts: Equity / deficit—Summary for 2016 to 2017

3
Equity/Deficit
31
Accumulated Deficit, Including Restricted Net Asset
311
Accumulated Deficit Unrestricted
3111
Accumulated Deficit
31111
Opening Balance, April 1, 2001

Department(s) specific:

  • 097 - Receiver General
31112
Accounting Policy Adjustments to Prior Years

Department(s) specific:

  • 097 - Receiver General
312
Restricted Net Asset Accounts

Note(s):

  • Details for restricted or special accounts due to legislation (e.g. E.I. account) will be reported in the Authority classification. Only those that meet PSAB definitions for restricted accounts will be recorded in the 312 series.
3121
Major Consolidated Specific Purpose Accounts
31211
Employment Insurance Account

Department(s) specific:

  • 014 - Employment and Social Development (Department of)
31213
Crop Re-Insurance Fund

Department(s) specific:

  • 001 - Agriculture and Agri-Food (Department of)
31214
Agricultural Commodities Stabilization Accounts

Department(s) specific:

  • 001 - Agriculture and Agri-Food (Department of)
31215
Employment Insurance Operating Account

Department(s) specific:

  • 014 - Employment and Social Development (Department of)
3122
Insurance and Endowment Accounts
31221
Oil Pollution Fund

Department(s) specific:

  • 034 - Transport (Department of)
31222
Other Insurance Accounts
31224
Endowment Accounts
3123
Other Consolidated Specified Purpose Accounts
31231
Environmental Research Funds

Department(s) specific:

  • 041 - Natural Resources (Department of)
  • 042 - Indian Affairs and Northern Development (Department of)
31233
Canadian Commercial Bank and Northland Bank

Department(s) specific:

  • 006 - Finance (Department of)
31234
Seized Property Proceeds Account

Department(s) specific:

  • 127 - Public Works and Government Services (Department of)
31235
Earmarked Fees and Levies
31236
New Parks and Historic Sites Account

Department(s) specific:

  • 124 - Parks Canada Agency
31239
Other Consolidated Specified Purpose Accounts
313
Equity of Crown Corporations
3131
Investment by Government of Canada in Enterprise Crown Corporations
31310
Details as required

Department(s) specific:

  • 097 - Receiver General
3132
Accumulated Deficit or Earned Surplus of Consolidated Crown Corporations and Other Entities
31320
Details as required

Department(s) specific:

  • 097 - Receiver General
314
Other Comprehensive Income
3141
Other Comprehensive Income
31411
Gain or loss on an available - for - sale financial assets

Department(s) specific:

  • 097 - Receiver General
31412
Gain or loss on hedges of unrealized foreign currency translation loss and gains

Department(s) specific:

  • 097 - Receiver General
31413
Actuarial gains or losses of pensions and other employee future benefits

Department(s) specific:

  • 097 - Receiver General
32
Departmental Net Asset (Liabilities)
32D
Departmental net asset (liabilities)
32DD
Departmental net asset (liabilities)
32DDD
Departmental net asset (liabilities)

Description:

This account represents the net taxpayer investment. The opening balance in this account is the result of the rollover of the closing balances in the Financial Reporting Accounts (FRA) for revenues, expenses, Control Accounts (6xDDD), 35DDD, 36DDD and 37DDD from previous years. There will be no current year entries in this account. The "DDD" in 32DDD is to be replaced by the department number.

Note(s):

  • Chapter 3 "Departments and Numbers" of the Government-wide Chart of Accounts.
35
Organization Transfer Out/In Offset Account
35D
Organization transfer out/in offset account
35DD
Organization transfer out/in offset account
35DDD
Organization transfer out/in offset account

Description:

This account is used by a department only after obtaining authorization from the Receiver General (Central and Public Accounts Reporting Directorate). Once authorized, the account will only be validated in the Central Financial Management Reporting System (CFMRS) for the current fiscal year. Following the end of each fiscal year, the net balance from this account is converted into the new year opening balance for the departmental equity account (32DDD). In the new fiscal year, the account will be deactivated in CFMRS. The account is used where the Government reorganizes by transferring, consolidating, splitting, terminating or creating a new department or agency and facilitates the recording of the accounting effects (assets, liabilities and equity attributable to the operations or functions transferred) from a transfer out department to one or more transfer in departments. Additional information regarding the accounting for the effects of a government restructuring is available in the Receiver General Manual (RGM) Chapter 10, subsection 10.9.1. The legal basis for a reorganization or transfer of duties is generally by Order in Council on authority of the Public Service Rearrangement and Transfer of Duties Act or through the passage of legislation in the form of a specific Government Organization Act.

Note(s):

  • Receiver General Manual Chapter 10 "Accounting Entries"
  • Receiver General Manual Chapter 14 "Year End Timetable and Procedures"
  • Chapter 3 "Departments and Numbers" of the Government-wide Chart of Accounts.
36
Retroactive Adjustment
36D
Retroactive adjustment
36DD
Retroactive adjustment
36DDD
Retroactive adjustment

Description:

This account is used by a department only after obtaining authorization from the Receiver General (Central and Public Account Reporting Directorate). Once authorized, the account will only be validated in the Central Financial Management Reporting System (CFMRS) for the current fiscal year. Following the end of each fiscal year, the net balance from this account is converted into the new year opening balance for the departmental equity account (32DDD). In the new fiscal year, the account will be deactivated in CFMRS. The account is used by departments to process a retroactive adjustment where, after a detailed examination of the circumstances (including appropriation and authority implications, the application of TBAS 2.2 - Materiality), the department has judged that its financial statements for prior fiscal year(s) can no longer be considered to have been reliable due to the implementation of a change in accounting policy or the discovery of a material error or omission relating to a prior fiscal year. Refer to the Receiver General Information Notice (RGIN) 2007-001, Request for Retroactive Adjustments, for additional details.

Note(s):

  • Receiver General Manual Chapter 10 "Accounting Entries"
  • Receiver General Manual Chapter 14 "Year End Timetable and Procedures"
  • Receiver General Information Notice (RGIN) 2007-001
  • Chapter 3 "Departments and Numbers" of the Government-wide Chart of Accounts.
37
Capital Assets Transfer Out/In Offset Account
37D
Capital assets transfer out/in offset account
37DD
Capital assets transfer out/in offset account
37DDD
Capital assets transfer out/in offset account

Description:

This account may be used only after obtaining authorization from the Receiver General (Central and Public Accounts Reporting Directorate). Once authorized, the account will be validated in the Central Financial Management Reporting System (CFMRS) for the current fiscal year only. Following the end of each fiscal year, the net balance from this account is converted into the new year opening balance for the departmental equity account (32DDD). In the new fiscal year, the account will be deactivated in CFMRS. The account is used to record the transfer of capital assets between departments. The transferring and receiving departments should credit or debit this account with the net book value of the asset. To avoid any effect on government reporting, departments should coordinate their accounting entries to ensure that they occur in the same period. Additional information regarding the accounting is available in the Receiver General Manual (RGM) Chapter 10, 14 and in the guidance on Interdepartmental Transfers - Capital Assets.

Note(s):

38
Accounts Receivable-Transition Payment Transfer Out/In Offset Account
38D
Accounts receivable - Transition payment transfer out/in offset account
38DD
Accounts receivable - Transition payment transfer out/in offset account
38DDD
Accounts receivable - Transition payment transfer out/in offset account

Description:

This account may be used only after obtaining authorization from the Receiver General (Central and Public Accounts Reporting Directorate). Once authorized, the account will be validated in the Central Financial Management Reporting System (CFMRS) for the current fiscal year only. Following the end of each fiscal year, the net balance from this account is converted into the new year opening balance for the departmental equity account (32DDD). In the new fiscal year, the account will be deactivated in CFMRS. The account is used to record the transfer of accounts receivable - transition payment to department 079. The transferring department and department 079 should credit or debit this account with the value of the accounts receivable. To avoid any effect on government reporting, departments must coordinate their accounting entries to ensure that they occur in the same period. Additional information regarding the accounting is available in Chapter 10 of the Receiver General Manual (RGM).

Note(s):

  • Receiver General Manual Chapter 10 "Accounting Entries"
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