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Not-for-Profit Advisory Committee Notes – January 6, 2016

  • ASNPO_AcSB Image

Feb 29, 2016

On February 29, 2016, the Accounting Standards Board released a summary of discussions held at the meeting.

The following questions were discussed:

Committee Member Orientation
Terms of Reference and Statement of Operating Procedures
Process for Modifying Part III Standards
Purpose, Scope and Timing of Proposed Projects

  • Accounting Standards Improvements for NFPOs
  • Reporting Controlled and Related Entities by NFPOs
  • Contributions – Revenue Recognition and Related Matters

Accounting Standards Improvements for NFPOs

  • Tangible Capital Assets and Intangible Assets
  • Works of Art, Historical Treasures and Similar Items Not Part of a Collection
  • Collections
  • Disclosure of Related Party Transactions by NFPOs
  • Disclosure of Allocated Expenses

Review the summary of discussions on the AcSB's Web site.

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