Start date:
End date:
Location: Toronto
On May 17, 2023, the Accounting Standards Board staff released a summary of the discussions held at this meeting.
The following issues were discussed:
Review the summary of discussions on the AcSB's Web site.
At its meeting on May 2, 2023, the Not-for-Profit Advisory Committee (NFPAC) provided feedback on potential solutions to provide guidance on the recognition, measurement, and presentation of insurance contracts with cash surrender value. The Committee also discussed the disclosures that would provide decision-useful information. In addition, the Committee discussed the accounting options for contributions of life insurance policies with cash surrender value received by NFPOs. The AcSB will consider the feedback from the NFPAC at its June 2023 meeting.
At its meeting on May 2, 2023, the Not-for-Profit Advisory Committee (NFPAC) provided feedback on potential solutions to provide guidance on the recognition, measurement, and presentation of insurance contracts with cash surrender value. The Committee also discussed the disclosures that would provide decision-useful information. In addition, the Committee discussed the accounting options for contributions of life insurance policies with cash surrender value received by NFPOs. The AcSB will consider the feedback from the NFPAC at its June 2023 meeting.
Review the summary of discussions on the AcSB's Web site.
At its meeting on May 2, 2023, the Not-for-Profit Advisory Committee (NFPAC) provided feedback on the AcSB’s tentative decision to issue an exposure draft to indefinitely defer the effective date of its recent amendments to Section 3400, Revenue, with early application permitted, until the project on Evaluating the Preface is complete. The Committee also provided feedback on the Board’s tentative decision to propose a new disclosure requirement in this exposure draft for entities recognizing non-refundable initiation and life membership fees in revenue up front. The AcSB will consider the feedback from its Not-for-Profit Advisory Committee and Private Enterprise Advisory Committee at the June 2023 Board meeting.
At its meeting on May 2, 2023, the Not-for-Profit Advisory Committee (NFPAC) provided feedback on the AcSB’s tentative decision to issue an exposure draft to indefinitely defer the effective date of its recent amendments to Section 3400, Revenue, with early application permitted, until the project on Evaluating the Preface is complete. The Committee also provided feedback on the Board’s tentative decision to propose a new disclosure requirement in this exposure draft for entities recognizing non-refundable initiation and life membership fees in revenue up front. The AcSB will consider the feedback from its Not-for-Profit Advisory Committee and Private Enterprise Advisory Committee at the June 2023 Board meeting.
Review the summary of discussions on the AcSB's Web site.