Government Not-for-Profit Entities: Capital Assets [Research]
Next steps: |
The PSAB plans to issue an Exposure Draft in December 2023 |
Last updated: |
September 2023 |
Overview
PSAB is embarking on implementing its GNFP Strategy (approved in March 2022) to incorporate the PS 4200 series into Public Sector Accounting Standards (PSAS) with potential customizations.
This project encompasses a review of the PS 4200 series standards related to Section PS 4230, Capital Assets held by Not-for-Profit Organizations, and Section PS 4240, Collections held by Not-for-Profit Organizations, to determine what amendments should be proposed to Section PS 3150, Tangible Capital Assets.
As a result of proposing amendments to Section PS 3150, Sections PS 4230 and PS 4240 will be withdrawn.
For further details, refer to the project summary on the PSAB website.
Other developments
December 2022
At its meeting on December 1-2, 2022, the PSAB approved this project.