Effective Dates for New Standards
Private Sector Not-for-Profit Organizations
This summary of recently issued pronouncements has been prepared for information purposes only. Consequential amendments to existing standards resulting from the issuance of new standards and less significant changes to existing standards are not included below. For more details, see the CICA Handbook – Accounting.
Private sector not-for-profit organizations are required to adopt either accounting standards for not-for-profit organizations in Part III of the Handbook or International Financial Reporting Standards in Part I as Canadian GAAP for fiscal years beginning on or after January 1, 2012.
Effective for annual periods beginning on or after January 1, 2012:
Amendments to Section 1501, First-time Adoption by Not-for-Profit Organizations re:
Amendments to Section 4450, Reporting Controlled and Related Entities by Not-for-Profit Organizations re: