Accounting Standards for Private Sector Not-for-Profit Organizations

Overview

Active Projects

Combinations – Initial Measurement and Related Disclosures

Continued consultation with the Not-for-Profit Advisory Committee and key stakeholders

Contributions – Revenue Recognition and Related Matters

Public outreach has occurred since June 2013 and is continuing

Consultation with the AcSB’s Not-for-Profit Advisory Committee began in January 2016 and is continuing

The AcSB is developing a Consultation Paper that is expected to be issued in March 2020

Financial Statement Concepts

The AcSB approved the project in March 2019.

CPA Canada Handbook

CPA Canada Handbook – Accounting, Part III contains all the accounting standards for not-for-profit organizations, set by the AcSB. Its available in print and online. 

Follow Part II news

Some NFPOs may need to apply standards found in CPA Canada Handbook – Accounting, Part II. Don't forget to keep up with accounting standards for private enterprises!

News


October 3, 2019 News
AcSB Meeting Agenda – October 10, 2019

At its upcoming meeting the Board will consider matters regarding IFRS® Standards and due process, among others.

September 17-18, 2019 Meeting Summary
AcSB Decision Summary – September 17-18, 2019

The Board discussed topics such as IFRS® Standards, Insurance, Revenue, Combinations, Contributions, and ASPE implementation questions, among others.

September 10, 2019 Meeting Summary
Private Enterprise Advisory Committee Notes – September 10, 2019

At its recent meeting, the Committee discussed a number of topics including Revenue, Related Party Transactions, the relevance of financial reporting, and much more.