Accounting Standards for Non-Profit Organizations (ASNPO)

Stay informed of new standards and recent changes to Accounting Standards for Non-Profit Organizations (ASNPO) together with Exposure drafts. Please also see the webinars, training courses and resources from the relevant standard setting boards under the Resources tab for each item.

New standard – combinations by not-for-profit organizations

The AcSB issued a new standard (Section 4449) that:

  • provides accounting requirements for the recognition, initial measurement and disclosure of a combination
  • applies to combinations involving two or more NFPOs that are unrelated or related parties
  • outlines criteria to determine when a combination is accounted for as a merger or as an acquisition
  • provides guidance on how to account for a merger or an acquisition
Effective prospectively for fiscal years beginning on or after January 1, 2022, with early adoption permitted.

New accounting guideline – customer’s accounting for cloud computing arrangements

The AcSB issued new accounting guideline (AcG-20) on accounting for cloud computing arrangements that is applicable to private enterprises and not-for-profit organizations. The guideline provides guidance on:

  • accounting for a customer’s expenditures in a cloud computing arrangement; and
  • determining whether a software intangible asset exists in the arrangement.

The guideline also includes an optional simplification approach to permit an enterprise to expense as incurred the expenditures related to the elements in the arrangement within the scope of Section 3064, Goodwill and Intangible Assets.

Effective for annual periods beginning on or after January 1, 2024, with earlier application permitted.

Section 1501, First-time Adoption by Not-for-Profit Organizations has been amended to permit a first-time adopter to apply the transitional provisions in AcG-20.

Section 4434, Intangible Assets Held by Not-for-Profit Organizations has been amended to clarify that the application of AcG-20 is required for intangible assets.

Revised standard – revenue: upfront non-refundable fees or payments

The AcSB issued amendments to Section 3400, Revenue, applicable to private enterprises and not-for-profit organizations, to defer the effective date of previously issued application guidance for recognizing revenue from upfront non-refundable fees or payments from fiscal years beginning on or after January 1, 2022, to fiscal years beginning on or after January 1, 2025.

The application guidance for recognizing revenue from upfront non-refundable fees or payments included in Section 3400 is effective for annual reporting periods beginning on or after January 1, 2025, with early application permitted.

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