Tangible Capital Assets (TCA) are a significant economic resource of First Nations and a key component in delivery of many First Nations programs (PS 3150.02). Current financial statements do not provide any information about the nature and age of a First Nation’s TCA. This information is important in determining the maintenance and replacement requirements of a First Nations.

Effective January 1, 2009 the Public Sector Accounting Standards Board (“PSAB”) has issued new financial standards that is arguably the largest change in accounting rules in recent years. PSAB Section 3150 requires First Nations to record the value of their Tangible Capital Assets in their financial statements and amortize these assets commencing December 31, 2009.

Implementing PSAB’s Section 3150 also requires First Nations to;

Develop an a TCA inventory and amortization values
Develop capitalization and amortization policies
Develop capitalization thresholds and record amortization values
Develop methods to maintain data information and asset register
Conduct education sessions to users on new reporting requirements

OFNTSC has available useful tools that have been tailored to assist First Nations with understand the changes in the financial reporting. These tools included a Tangible Capital Asset Users Manual, a generic TCA Policy and an Excel spreadsheet that will inventory, track and calculate amortization values for TCA’s.

For those First Nations seeking additional information please view the attach resources material that are helpful guides on PS 3150 new financial reporting requirements.


PSAB Asset Management
PSAB Implementation Plan
Guide to Reporting TCA
What is PSAB
Financial Reporting By First Nations 2008
TCA Asset Register v7.1.4_5
TCA Policy March 2010
TCA Reference Manual March 2010