Accounting Standards for Private Sector Not-for-Profit Organizations

Overview

Active Projects

Combinations – Initial Measurement and Related Disclosures	Exposure Draft issued on January 2020 Roundtable Discussions taking place in February and March 2020	Exposure Draft
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 May 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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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

January 29, 2020 Meeting Summary

AcSB Decision Summary – January 15, 2020

The Board discussed topics such as IFRS^® Standards, contributions, pension plans, and its next strategic plan, among others.

January 21, 2020 News

Withdrawal of Part V from the CPA Canada Handbook – Accounting

As of March 1, 2020, Part V, also known as pre-changeover accounting standards, will be removed from the Handbook. Read more for additional information, and to find out what this means for stakeholders and preparers.

January 7, 2020 Meeting Summary

AcSB Decision Summary – December 11, 2019

The Board discussed topics such as IFRS^® Standards, Insurance, Combinations, and Related Party Combinations, among others.