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DownloadUpdated: October 2019
Effective Date: Fiscal years beginning on or after January 1, 2012
Not-for-profit organization (NPO)
- An entity, normally without transferable ownership interests, organized and operated exclusively for social, educational, professional, religious, health, charitable or any other not-for-profit purpose. A NPO’s members, contributors and other resource providers do not, in such capacity, receive any financial return directly from an organization.
Government not-for-profit organization (GNPO)
- A GNPO is a government organization that meets the definition of a not-for-profit organization outlined above and has counterparts outside the public sector as defined in paragraph .07 of the Introduction to Public Sector Accounting Standards.
General
- The PS 4200 Series of Sections included in the PSA Handbook is only applicable to GNPOs. GNPOs have a choice of applying the PSA Handbook with or without the PS 4200 Series of Sections.
Applicability of CPA Canada PSA Handbook Sections to GNPOs that elect to follow the standards with the PS 4200 series
The following Sections addresses matters that should be considered by all GNPOs.
- PS 1000, Financial Statement Concepts
- If the provisions of this Section ever conflict with Sections PS 4210, Contributions – Revenue Recognition, and PS 4230, Capital Assets Held by NPOs, on the deferral of contributions and costs, Sections PS 4210 and PS 4230, respectively, apply.
- PS 1100, Financial Statement Objectives
- PS 1150, Generally Accepted Accounting Principles
- PS 1201, Financial Statement Presentation
- This Section only applies to the preparation of the Statement of Cash Flows and the Statement of Remeasurement Gains and Losses. Section PS 4200, Financial Statement Presentation by NPOs, applies to the preparation of the remaining financial statements.
- PS 2100, Disclosure of Accounting Policies
- PS 2120, Accounting Changes
- PS 2125, First-time Adoption
- PS 2130, Measurement Uncertainty
- PS 2400, Subsequent Events
- PS 2700, Segment Disclosures1
- PS 3300, Contingent Liabilities
- PS 3320, Contingent Assets
- PS 3380, Contractual Rights
- PS 3390, Contractual Obligations
- PS 3400, Revenue
- PS 3420, Inter-entity Transactions
The following Sections apply to GNPOs when they have transactions or circumstances that are dealt with by the Section:
- PS 2200, Related Party Disclosures
- PS 2500, Basic Principles of Consolidation
- PS 2510, Additional Areas of Consolidation
- PS 2601, Foreign Currency Translation
- PS 3041, Portfolio Investments
- PS 3050, Loans Receivable
- PS 3060, Interests in Partnerships
- PS 3200, Liabilities
- PS 3210, Assets
- PS 3230, Long-term Debt
- PS 3250, Retirement Benefits
- PS 3255, Post-employment Benefits, Compensated Absences and Termination Benefits
- PS 3270, Solid Waste Landfill Closure and Post-closure Liability
- PS 3280, Asset Retirement Obligations
- PS 3310, Loan Guarantees
- PS 3430, Restructuring Transactions
- PS 3450, Financial Instruments Limited or no applicability
The following Sections have very limited or no applicability to GNPOs:
- PS 1300, Government Reporting Entity
- For GNPOs Section PS 4250, Reporting Controlled and Related Entities by NPOs, applies instead.
- PS 3070, Investments in Government Business Enterprises
- For GNPOs Section PS 4250 applies instead.
- PS 3100, Restricted Assets and Revenues
- For GNPOs Section PS 4210 applies instead.
- PS 3150, Tangible Capital Assets
- For GNPOs Section PS 4230 applies instead.
- PS 3260, Liability for Contaminated Sites
- PS 3410, Government Transfers
- For GNPOs Section PS 3200 applies for grants made and Section PS 4210 applies for government grants received instead.
- PS 3510, Tax Revenue
1 Segment disclosures should only be provided when a government organization’s operations are diverse enough to warrant such disclosures.
BDO can help you navigate the road ahead
Applying financial reporting standards can be quite complex. The BDO team can help you assess your situation and prepare for the opportunities and challenges involved.
This publication has been carefully prepared, but it has been written in general terms and should be seen as broad guidance only. The publication cannot be relied upon to cover specific situations and you should not act, or refrain from acting, upon the information contained therein without obtaining specific professional advice. Please contact BDO Canada LLP to discuss these matters in the context of your particular circumstances. BDO Canada LLP, its partners, employees and agents do not accept or assume any liability or duty of care for any loss arising from any action taken or not taken by anyone in reliance on the information in this publication or for any decision based on it.
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