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Section 3032 - Inventories held by not-for-profit organizations

Effective date:

January 1, 2021

Published by the AcSB:

December 2010


This Section prescribes the accounting treatment for inventories of a not-for-profit organization. Except as otherwise provided for in this Section, a not-for-profit organization applies, Section 3031 Inventories in Part II of the Handbook.

History of Section 3032




December 2010

Part III of the CPA Canada Handbook  issued

Effective for fiscal years beginning on or after January 1, 2012. Earlier application permitted.

November 2019


On the issuance of new Section 3041, Agriculture, to Part II of the Handbook, Section 3032 has been amended to clarify that a not-for-profit organization accounts for agricultural inventories in accordance with Section 3041. This amendment is ef­fec­tive for annual periods beginning on or after January 1, 2021, with earlier application permitted.

August 2020


As a re­sult of the im­pact of the Covid-19 pan­demic, the AcSB de­cided to de­fer the ef­fec­tive date of the November 2019 amendment to Section 3032 by one year to fis­cal years be­gin­ning on or af­ter Jan­u­ary 1, 2022. Ear­lier ap­pli­ca­tion con­tin­ues to be per­mit­ted.

Note: The above summary does not include details of consequential amendments made as the result of other projects.

Not-for-Profit Advisory Committee meetings


Amendments under consideration

  • None


Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.