Accounting Standards for Not-for-Profit Organizations update 2022
It was a busy year for the Accounting Standards Board (AcSB) and for Part III of the CPA Canada Handbook – Accounting: Accounting Standards for Not-for-Profit Organizations (ASNPO).
The board made progress on various projects in 2022, including those on accounting for contributions. In addition, a new standard became effective in the current year providing guidance on accounting for combinations of not-for-profit organizations (NPOs). Both of these items will be discussed in this publication as well as the following:
How some changes made to Accounting Standards for Private Enterprises (ASPE) also affects NPOs.
Amendments resulting from the AcSB’s projects on revenue and cloud computing arrangements and their impact on NPOs.
An update on other projects the AcSB is working on that will impact NPOs in the future.