At its meeting on May 16, 2017, the AcSB decided to:

• perform additional research to understand better current practices, such as on the types of not-for-profit organizations that use the deferral method or the restricted fund method and why, and the significance of different types of revenue to those organizations; and
• consult with a range of users of not-for-profit financial statements, including, but not limited to, foundations, government funders and not-for-profit directors to understand what information they need to make decisions.

The Board directed the staff to assess how this project should consider the research under way on Section 1000, Financial Statement Concepts and Section 3400, Revenue, in its Consultation on Priorities for Part II of the Handbook, and whether a corresponding review of Section 1001, Financial Statement Concepts for Not-for-profit Organizations, in Part III is needed.

Review the Executive Summary on the AcSB's Web site.