Establishment Debt Development Program

Tasked with the idea to create something from existing accounting principles and regulations, the accounting standard known as Establishment Debt was designed to alleviate the constant stress and pressure that small and medium-sized enterprises (SMEs) face in the Canadian economy. With regards to the Government of Canada and several banking acts and legislations, the Establishment Debt Development Program was created in an effort to allow SMEs to offset a portion of their debt in order to become more profitable in the future. Building off of IFRS 9, the Establishment Debt policy requires support from the Government of Canada in regard to how banking regulations are in compliance with Financial Accounting Standards Board and the International Accounting Standards.