Additional Guidance with respect to Section 3400 – AcSB
Date recorded:
At its meeting on May 18, 2022, the AcSB discussed feedback received from its Private Enterprise Advisory Committee and Not-for-Profit Advisory Committee on recent amendments to Section 3400, Revenue, related to accounting for upfront non-refundable fees and payments. The Board considered the need to either defer the effective date or to temporarily withdraw the amendments to research its effects. The Board directed its staff to further research the available options to address concerns stakeholders raised and will continue this discussion at its June 2022 meeting.
Review the Executive Summary on the AcSB's Web site.
