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Part III — Accounting Standards for Not-for-Profit Organizations (NPO Standards) | Deloitte CFR

You can find more about each of the standards that form part of Part III - Accounting Standards for Not-for-Profit Organizations (ASNPO) by selecting the standard you are interested in from the following table or from the left navigation where we have categorized the standards into groupings based on their nature.

Title Description Effective Date
Section 1001 - Financial statement concepts for not-for-profit organizations This Section describes the concepts underlying the development and use of accounting principles in general purpose financial statements. Effective for fiscal years beginning on or after January 1, 2012. Earlier application permitted.
Section 1101 - Generally accepted accounting principles for not-for-profit organizations This Section describes what constitutes generally accepted accounting principles for not-for-profit organizations reporting in accordance with Part III of the Handbook. This Section also provides guidance on sources to consult when selecting accounting policies and determining appropriate disclosures, when a matter is not dealt with explicitly in the primary sources of generally accepted accounting principles. Effective for fiscal years beginning on or after January 1, 2012. Earlier application permitted.
Section 1401 - General standards of financial statement presentation for not-for-profit organizations Financial reporting is essentially a process of communication of information. Effective for fiscal years beginning on or after January 1, 2012. Earlier application permitted.
Section 1501 - First-time adoption by not-for-profit organizations Section 1501, First Time Adoption by Not-for-Profit Organizations, provides guidance on preparing the first set of financial statements under Part III of the Handbook - Accounting Standards for Not-For-Profit Organizations (ASNPO). Effective for fiscal years beginning on or after January 1, 2021. Earlier application permitted.
Section 3032 - Inventories held by not-for-profit organizations This Section prescribes the accounting treatment for inventories of a not-for-profit organization. Effective for fiscal years beginning on or after January 1, 2021. Earlier application permitted.
Section 3463 - Reporting employee future benefits by not-for-profit organizations This Section prescribes the accounting treatment for employee future benefits provided by a not-for-profit organization. Effective for fiscal years beginning on or after January 1, 2014. Earlier application permitted but only for all benefit plans.
Section 4400 - Financial statement presentation by not-for-profit organizations This Section establishes presentation and disclosure standards for financial statements of not-for-profit organizations. Effective for fiscal years beginning on or after January 1, 2012. Earlier application permitted.
Section 4410 - Contributions — revenue recognition This Section establishes standards for the recognition, measurement, presentation and disclosure of contributions, and related investment income, received by not-for-profit organizations. Effective for fiscal years beginning on or after January 1, 2012. Earlier application permitted.
Section 4420 - Contributions receivable This Section establishes standards for the recognition and disclosure of contributions receivable by not-for-profit organizations. Effective for fiscal years beginning on or after January 1, 2012. Earlier application permitted.
Section 4431 - Tangible capital assets held by not-for-profit organizations [Superseded] This Section deals with accounting for tangible capital assets held by not-for-profit organizations. Effective for fiscal years beginning on or after January 1, 2012. Earlier application permitted.
Section 4432 - Intangible assets held by not-for-profit organizations [Superseded] This Section deals with accounting for intangible assets acquired or developed by a not-for-profit organization. Effective for fiscal years beginning on or after January 1, 2012. Earlier application permitted.
Section 4433 - Tangible capital assets held by not-for-profit organizations This Section provides guidance on contributed assets and write-downs of assets. Effective for annual financial statements relating to fiscal years beginning on or after January 1, 2019. Earlier application is permitted.
Section 4434 - Intangible assets held by not-for-profit organizations This Section provides guidance on contributed assets and write-downs of assets. Effective for annual financial statements relating to fiscal years beginning on or after January 1, 2019. Earlier application is permitted.
Section 4440 - Collections held by not-for-profit organizations This Section establishes disclosure standards for collections held by not-for-profit organizations. Effective for fiscal years beginning on or after January 1, 2012. Earlier application permitted.
Section 4441 - Collections held by not-for-profit organizations This Section requires all collections to be recorded on the statement of financial position at either cost or nominal value. Effective for annual financial statements relating to fiscal years beginning on or after January 1, 2019. Earlier application is permitted. Retrospective application of Section 4441 is required.
Section 4450 - Reporting controlled and related entities by not-for-profit organizations This Section establishes standards for the presentation and disclosure of controlled, significantly influenced and other related entities in the financial statements of not-for-profit organizations. Effective for fiscal years beginning on or after January 1, 2012. Earlier application permitted.
Section 4460 - Disclosure of related party transactions by not-for-profit organizations This Section establishes disclosure standards for related party transactions in the financial statements of not-for-profit organizations. The measurement of related party transactions is not dealt with in this Section. Effective for fiscal years beginning on or after January 1, 2012. Earlier application permitted.
Section 4470 - Disclosure of allocated expenses by not-for-profit organizations This Section establishes disclosure standards for a not-for-profit organization that classifies its expenses by function and allocates its expenses to a number of functions to which the expenses relate. Effective for fiscal years beginning on or after January 1, 2012. Earlier application permitted.

Correction list for hyphenation

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