Section 4420 - Contributions receivable
Effective date: |
January 1, 2012 |
Published by the AcSB: |
December 2010 |
Overview
This Section establishes standards for the recognition and disclosure of contributions receivable by not-for-profit organizations. The Section states that a contribution received should be recognized as an asset when the amount to be received can be reasonably estimated and ultimate collection can be reasonably assured.
History of Section 4420
Date |
Development |
Comments |
December 2010 |
Part III of the CPA Canada Handbook issued |
Effective for fiscal years beginning on or after January 1, 2012. Earlier application 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
- February 22, 2017 - Using consistent concepts to recognize revenue and possible options to account for donor stipulated contributions
- November 17, 2016 - Contributions – Revenue Recognition and Related Matters