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Contributions – Revenue Recognition and Related Matters – AcSB

Date recorded:

At its meeting on June 18, 2019, the AcSB continued its discussion on the proposed Consultation Paper, including the nature of illustrative examples to be included related to the recognition of restricted contributions. The Board also discussed how financial statement concepts are used by not-for-profit organizations when accounting for contributions, including the input to be sought in the consultation paper regarding financial statement concepts. The Board also discussed the feedback received from stakeholders on the timeline for this project, considering the timing of the Combinations exposure draft and the related outreach activities for both projects. The Board currently plans to issue its Consultation Paper in March 2020.

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

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