Flash – Accounting Standards Improvements for Not-for-Profit Organizations (April 2017)

- May 11, 2017

Flash bulletins provide a summary of the most recent news and publications from standard setters on accounting standards for private enterprises (ASPE), not-for-profit organizations (NFPO) and pension plans. This special edition of Flash specifically addresses the Exposure Draft issued by the Canadian Accounting Standards Board (AcSB) in February 2017 entitled Accounting Standards Improvements for Not-for-Profit Organizations which is relevant to NFPO who report under Part III of the CPA Canada Handbook – Accounting and apply Accounting Standards for NFPO (ASNFPO).

This publication is intended to inform readers about recent changes in accounting; however, it cannot deal with all aspects of the Exposure Draft. Readers are always encouraged to refer to the original publications mentioned in the articles before making any decisions.

 Overview

The AcSB’s Exposure Draft has been issued as part of its continuing project to retain and improve ASNFPO. The Exposure Draft includes proposals that will affect all NFPO in the private sector that own tangible capital assets, intangible assets, collections, or works of art, historical treasures and similar items not part of a collection.

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