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

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. 

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


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.