Contributions – Revenue Recognition and Related Matters – AcSB

Date recorded:

At its meeting on November 16-17, 2022, the AcSB continued discussing the Exposure Draft proposals and considered feedback from the Not-for-Profit Advisory Committee related to: disclosure of contribution revenue; fund accounting presentation; presentation of net assets; disclosure of restricted cash; and transition. Following a discussion, the AcSB made tentative decisions in respect of each of these issues. The AcSB also discussed a preliminary draft of the Exposure Draft, including the basis for conclusions. The AcSB will continue discussing this project at its December meeting and consider a revised draft of the Exposure Draft. The Board will also discuss the results of field testing its draft proposals relating to the recognition of revenue from contributions. The Board plans to issue an Exposure Draft in March 2023.

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

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