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ASNPO Contributions – Revenue Recognition and Related Matters (Possible Amendments to Sections 4400, 4410 and 4420) [Research]

Next steps:

The AcSB plans to issue a Consultation Paper in Q2/2020

Last up­dated:

January 2020


This project is being undertaken in response to the feedback from private sector stakeholders to the April 2013 AcSB/PSAB Joint Statement of Principles, Improvements to Not-for-Profit Standards (the SOP).

The project will involve:

  1. researching the recognition of revenue from contributions, as part of addressing the proposals that state: (a) pledges must meet the definition of an asset to be recorded (Principle 1); (b) a contribution stipulation must meet the definition of a liability in order to not be recognized as revenue when received or receivable (Principle 2); (c) when a stipulation gives rise to a liability, revenue would be recognized as the liability recorded pursuant to Principle 2 is settled (Principle 3); and (d) contributions of materials and services may be recognized if a fair value can reasonably be recognized (Principle 4); and
  2. addressing the implications of: (a) eliminating the $500,000 size exemption in Part III of the Handbook that permits non-recognition of tangible and intangible capital assets (Principle 7); and (b) applying the referenced standards in Part II of the Handbook to the presentation of financial statements subject to retaining guidance material in Part III that addresses unique financial statement presentation issues faced by not-for-profit organizations. (Principle 13).


Other de­vel­op­ments

October 2019

In October 2019, the AcSB staff updated this project to note that the Board expects to issue a Consultation Paper in Q2/2020.

July 2019

In July 2019, the AcSB staff updated this project to note that the Board expects to issue a Consultation Paper in Q1/2020.

May 2015

At its meeting on May 25-26, 2015, this project was approved by the AcSB which will conduct further research on the recognition of revenue from contributions (Principles 1 to 4).  This project will also address the implications of the deliberations relating to the size exemption for capital assets (Principle 7) and financial statement presentation (Principle 13).


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