This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice ( for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

Basis for Conclusions – Revenue, Section 3400

  • ASPE_AcSB Image

Dec 11, 2019

On December 11, 2019, the Accounting Standards Board (AcSB) released this document which sets out how the AcSB reached its conclusions on the Revenue project, and discussions on significant matters arising from comments received and issues raised in response to its Exposure Draft.

The Basis for Conclusions includes the following:

  • Applicability to not-for-profit organizations
  • Effects analysis
  • Development of the amendments
  • Identifying units of account
  • Multiple-element arrangements
  • Percentage of completion method
  • Upfront non-refundable fees/payments
  • Bill and hold arrangements
  • Reporting revenue gross or net
  • Disclosure
  • Transition
  • Consequential amendments
  • First-time adoption, section 1500, and first-time adoption by Not-for-profit organizations, section 1501 in part iii

The amendments are effective date for fiscal years beginning on or after January 1, 2021.

Review the Basis for Conclusions on the AcSB's website.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.