Start date:
End date:
Location: Toronto
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 November 1, 2023, the Not-for-Profit Advisory Committee (NFPAC) received an overview of the feedback on the AcSB Exposure Draft, “Contributions – Revenue Recognition and Related Matters.” The Committee discussed feedback on the purpose of the project, the definition of a restricted contribution, and the recognition of restricted contributions. The Committee also discussed potential options to address the feedback, considered the guidance on accounting for contributions in other jurisdictions, and discussed the next steps.
At its meeting on November 1, 2023, the Not-for-Profit Advisory Committee (NFPAC) received an overview of the feedback on the AcSB Exposure Draft, “Contributions – Revenue Recognition and Related Matters.” The Committee discussed feedback on the purpose of the project, the definition of a restricted contribution, and the recognition of restricted contributions. The Committee also discussed potential options to address the feedback, considered the guidance on accounting for contributions in other jurisdictions, and discussed the next steps.
Review the summary of discussions on the AcSB's Web site.
At its meeting on November 1, 2023, the Not-for-Profit Advisory Committee (NFPAC) discussed potential improvements to the existing disclosures in Section 4450, Reporting Controlled and Related Entities by Not-for-Profit Organizations, as part of the AcSB’s project to Research Improvements to Section 4450. The Committee also provided feedback on potential new disclosure requirements for controlled and related entities.
At its meeting on November 1, 2023, the Not-for-Profit Advisory Committee (NFPAC) discussed potential improvements to the existing disclosures in Section 4450, Reporting Controlled and Related Entities by Not-for-Profit Organizations, as part of the AcSB’s project to Research Improvements to Section 4450. The Committee also provided feedback on potential new disclosure requirements for controlled and related entities.
Review the summary of discussions on the AcSB's Web site.
At its meeting on November 1, 2023, the Not-for-Profit Advisory Committee (NFPAC) received an overview of the feedback on its Consultation Paper I, “Exploring Scalability in Canada,” which closed for comment on July 31, 2023. Committee members discussed specific scaling solutions from a not-for-profit perspective, including the proposals to simplify/implement tiering in Part II and Part III of the CPA Canada Handbook ̶ Accounting and the need for a new framework for smaller entities in the not-for-profit landscape. The Committee discussed the feedback from the Consultation Paper that indicated that the existing Part II and Part III of the Handbook are too complex, with Committee members providing mixed views on this feedback. The Committee also discussed the broad range of organizations in the sector that are subject to audit requirements, including very small NFPOs.
At its meeting on November 1, 2023, the Not-for-Profit Advisory Committee (NFPAC) received an overview of the feedback on its Consultation Paper I, “Exploring Scalability in Canada,” which closed for comment on July 31, 2023. Committee members discussed specific scaling solutions from a not-for-profit perspective, including the proposals to simplify/implement tiering in Part II and Part III of the CPA Canada Handbook ̶ Accounting and the need for a new framework for smaller entities in the not-for-profit landscape. The Committee discussed the feedback from the Consultation Paper that indicated that the existing Part II and Part III of the Handbook are too complex, with Committee members providing mixed views on this feedback. The Committee also discussed the broad range of organizations in the sector that are subject to audit requirements, including very small NFPOs.
Review the summary of discussions on the AcSB's Web site.