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. 

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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!

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News

August 16, 2019 News
AcSB Meeting Agenda – September 17-18, 2019

At its upcoming meeting the Board will consider matters regarding IFRS® Standards, standards for private enterprises, not-for-profit organizations, and due process, among others.

August 16, 2019 News
Volunteer Opportunity – Accounting Standards Board

AcSOC is looking for new AcSB members! Are you a financial statement user? Do you prepare financial statements using accounting standards for not-for-profit organizations? Then we want to hear from you. Submit your résumé by September 13, 2019 to apply to become a member.

July 30, 2019 Meeting Summary
Not-for-Profit Advisory Committee Meeting Notes – July 30, 2019

At its recent meeting, the Committee discussed accounting for contributions and combinations, as well as research on the NFP sector, amendments to other frameworks, and the Public Sector Accounting Board’s (PSAB’s) Government NFP Strategy Consultation paper.