Section 4440 - Collections held by not-for-profit organizations

Effective date:

January 1, 2012

Published by the AcSB:

December 2010


This Section establishes disclosure standards for collections held by not-for-profit organizations. Collections are works of art, historical treasures or similar assets that are: (i) held for public exhibition, education or research; (ii) protected, cared for and preserved; and (iii) subject to an organizational policy that requires any proceeds from their sale to be used to acquire other items to be added to the collection or for the direct care of the existing collection.  Although the capitalization of collections is not required, it is not precluded. The Section prescribes specific disclosures for collections held by a not-for-profit organization including a description of the collection, the accounting policy followed and the amount of expenditures on the collection in the period.

History of Section 4440




December 2010

Part III of the CPA Canada Handbook  issued

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

March 2018

Section 4441 issued, replacing Section 4440

Section 4441 is ef­fec­tive for annual financial statements relating to fis­cal years be­gin­ning on or af­ter Jan­u­ary 1, 2019. Ear­lier ap­pli­ca­tion is 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

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