Basis for Conclusions — Accounting Standards Improvements for Not-for-Profit Organizations

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Mar 01, 2018

On March 1, 2018, the Accounting Standards Board (AcSB) released this document which sets out how the AcSB reached its conclusions. This document includes discussion of significant matters arising from comments received and issues raised in response to its Exposure Draft.

This document summarizes considerations that were deemed significant by the members of the AcSB in reaching their conclusions in developing:

  • TANGIBLE CAPITAL ASSETS HELD BY NOT-FOR-PROFIT ORGANIZATIONS, Section 4433,
  • INTANGIBLE ASSETS HELD BY NOT-FOR-PROFIT ORGANIZATIONS, Section 4434
  • COLLECTIONS HELD BY NOT-FOR-PROFIT ORGANIZATIONS, Section 4441 in Part III of the Handbook.
  • Section 4433 replaces TANGIBLE CAPITAL ASSETS HELD BY NOT-FOR-PROFIT ORGANIZATIONS, Section 4431,
  • Section 4434 replaces INTANGIBLE ASSETS HELD BY NOT-FORPROFIT ORGANIZATIONS, Section 4432
  • Section 4441 replaces COLLECTIONS HELD BY NOT-FORPROFIT ORGANIZATIONS, Section 4440.

Effective Date

Sections 4433, 4434 and 4441 are effective for annual financial statements beginning on or after January 1, 2019, with earlier application permitted.

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

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