At its meeting on October 4, 2022, the Not-for-Profit Advisory Committee received an update on the AcSB’s recent tentative decisions related to the development of an Exposure Draft on the recognition of contributions and related topics. The AcSB will consider the Committee’s feedback at its meetings in October and November 2022 as it continues its discussion of the Exposure Draft proposals. As part of these discussions, the Board will consider the interaction of the tentative decisions for each topic discussed to date, and whether they result in financial reporting that is useful to financial statement users before finalizing the Exposure Draft proposals. The Board intends to issue the Exposure Draft in Q1/2023.

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

At its meeting on October 4, 2022, the Not-for-Profit Advisory Committee received an update on the comments received on the AcSB’s Exposure Draft. The Committee then discussed possible alternatives to address the concerns not-for-profit stakeholders raised about the amendments. It considered whether additional illustrative examples, application guidance or an exception to the guidance would result in more decision-useful reporting for entities with upfront, non-refundable membership dues. The Committee also discussed whether any potential exception to the upfront, non-refundable fees guidance should apply to for-profit entities that have characteristics similar to those of not-for-profit entities with upfront non-refundable membership dues. The AcSB will consider feedback from the Not-for-Profit Advisory Committee and the Private Enterprise Advisory Committee at the Board meeting in December 2022.

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