Contributions – Revenue Recognition and Related Matters – NFPAC

Date recorded:

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.

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