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Public Sector Accounting Standards

Government Not-for-Profit: Capital Assets

Summary

PSAB is embarking on implementing its GNFP Strategy (approved in March 2022) to incorporate the PS 4200 series into Public Sector Accounting Standards (PSAS) with potential customizations.

This project encompasses a review of the PS 4200 series standards related to Section PS 4230, Capital Assets held by Not-for-Profit Organizations, and Section PS 4240, Collections held by Not-for-Profit Organizations, to determine what amendments should be proposed to Section PS 3150, Tangible Capital Assets.

As a result of proposing amendments to Section PS 3150, Sections PS 4230 and PS 4240 will be withdrawn.

Staff Contact(s)

Camila Santos, CPA Principal, Public Sector Accounting Board

Phone number  +1 416 204 3300
Email address  [email protected]
Sandra Waterson, CPA, CA Principal, Public Sector Accounting Board

Phone number  +1 416 204 3282
Email address  [email protected]

Project Status

  • Information gathering

    Completed prior to December 2022

  • Approving project

    Project approved by PSAB at its December 2022 meeting

  • Consulting stakeholders

    Webinar – PSAB’s GNFP Strategy Decision and Implementation Plan available October 2022

    PSAB expects to approve the GNFP Capital Assets exposure draft

    Webinar
  • Deliberating feedback

    PSAB to deliberate responses and approve final handbook amendments

  • Final pronouncement

    Final Handbook amendments to be issued in 2025

GNFP Strategy Decision and Implementation Plan

Understand more about the GNFP Strategy Decision and Implementation Plan.

Learn more

News

November 17, 2022

Resource, Webinar

On-demand Webinar – Government Not-for-Profit (GNFP) Strategy Decision and Implementation Plan

Watch the recorded English or French webinar to learn about PSAB’s Government Not-for-Profit (GNFP) Strategy Decision and Implementation Plan.

Meeting & event summaries

July 17, 2023

PSAB Decision Summary – June 27-28, 2023

PSAB received an overview of key issues identified as part of the GNFP Capital Assets project. The project entails a review of Section PS 4230, Capital Assets Held by Not-for-Profit Organizations and Section PS 4240, Collections Held by Not-for-Profit Organizations to determine what amendments might be proposed to PS 3150, Tangible Capital Assets. The Board provided further direction that will assist the GNFP Advisory Committee to develop an exposure draft and the accompanying Basis for Conclusions for approval at the Board’s meeting in December 2023.



December 20, 2022

PSAB Decision Summary – December 1-2, 2022

As part of the GNFP Strategy decision and Implementation Plan, PSAB approved the GNFP Capital Assets project proposal.

This project will focus on proposing amendments to Section PS 3150, Tangible Capital Assets, as a result of reviewing Section PS 4230, Capital Assets Held by Not-for-Profit Organizations, and Section PS 4240, Collections Held by Not-for-Profit Organizations.

The project will follow PSAB’s due process and the Board will consult stakeholders on all proposed changes before amendments are made to the PSA Handbook. Stakeholder feedback will be sought throughout the consultation period.

Disclaimer

This project summary has been prepared for information purposes only. Decisions reported are tentative and reflect only the current status of discussions on this project, which may change after further Board deliberations. Decisions to publish Handbook material are final only after a formal voting process.