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.