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Not-for-Profit Advisory Committee Meeting Notes – November 17, 2016

Start date:

End date:

Location: Toronto

On December 20, 2016, the Accounting Standards Board released a summary of discussions held at the meeting.

The following questions were discussed:

Accounting Standards Improvements for NFPOs

  • Upcoming Exposure Draft
  • Effective Date of the Proposals
  • Obtaining Feedback on the Proposals

Part II Proposals

Contributions – Revenue Recognition and Related Matters

  • Reasons for Two Methods of Accounting
  • How Two Methods Serve Conceptual Principles and the Effect on Donors
  • Deferral Method – Pros and Cons
  • Restricted Fund Method – Pros and Cons
  • Other Areas for Improvement
  • Other Matters
  • FASB Update
  • Other Issues

Terms of Reference and Statement of Operating Procedures

Review the summary of discussions on the AcSB's Web site.

Related Topics

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