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

March 3-4, 2020 Meeting Summary

AcSB Decision Summary – March 3-4, 2020

The Board discussed topics such as IFRS Standards, employee future benefits, related party transaction, standards for pension plans, and its next strategic plan, among others. Read the Decision Summary for full details.

February 25, 2020 Meeting Summary, Webpage

Private Enterprise Advisory Committee Notes – February 25, 2020

At its recent meeting, the Committee discussed a number of application issues in practice and comments on the Employee Future Benefits Exposure Draft.

February 18, 2020 Meeting Summary

AcSB Decision Summary – February 18, 2020

The Board discussed topics such as contributions, ASPE implementation, and its next strategic plan, among others.