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Section 4449 - Combinations by Not-for-Profit Organizations

Effective date:

Section 4449 applies prospectively to annual financial statements relating to fiscal years beginning on or after January 1, 2022. Earlier application is permitted.

Published by the AcSB:

March 2021

Overview

This Section provides the accounting requirements for the recognition, initial measurement and disclosure of a combination by not-for-profit organizations.

The main features of Section 4449 are as follows: (i) the scope of the Section includes combinations involving two or more not-for-profit organizations that are unrelated parties or related parties; (ii) a set of criteria to determine when a combination is accounted for as a merger or as an acquisition; and (iii) guidance on how to account for a merger or an acquisition.

 

His­tory of Sec­tion 4449

Date

Development

Comments

March 2021 This new Sec­tion was added to Part III of the CPA Canada Handbook Applies prospectively to annual financial statements relating to fiscal years beginning on or after January 1, 2022. Earlier application is permitted.

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

 

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.