AcSB Exposure Draft: Revenue – Upfront Non-refundable Fees or Payments
Jun 30, 2022
On June 30, 2022, the Accounting Standards Board (AcSB) issued an Exposure Draft, Revenue – Upfront Non-refundable Fees or Payments, which proposes amendments to Section 3400, Revenue, in Part II of the CPA Canada Handbook. The amendments would also apply to not-for-profit organizations (NFPOs) applying the standards in Part III of the Handbook, as relevant. Comments are requested by August 15, 2022.
The proposed amendments would defer the effective date for upfront non-refundable fees or payments application guidance from fiscal years beginning on or after January 1, 2022, to fiscal years beginning on or after January 1, 2025.
Review the following on the AcSB's website: