Skip to main content

Accounting Standards for Private Sector Not-for-Profit Organizations

AcSB's Future Domestic Work Plan Consultation

Summary

The AcSB is embarking on its Future Domestic Work Plan Consultation to gather input on potential domestic projects for its 2024-2025 Annual Plan and beyond. Through the Future Domestic Work Plan Consultation survey, the AcSB would like to determine which additional projects to prioritize when residual resources become available.

The survey covers proposed projects under the domestic standards in the CPA Canada Handbook – Accounting:

  • Part II - Accounting Standards for Private Enterprises
  • Part III - Accounting Standards for Not-for-Profit Organizations
  • Part IV - Accounting Standards for Pension Plans

Background Information

  • Read about the AcSB’s Current Work Plan
  • Read the AcSB’s 2022-2027 Strategic Plan
  • Learn more about the AcSB’s Due Process Considerations for New Projects

Staff Contact(s)

Eric English, CPA, CA Principal, Accounting Standards

Phone number  +1 647 264 8277
Email address  [email protected]

Project Status

  • Information gathering

    The AcSB gathered feedback on potential future domestic project topics from its Advisory Groups and other relevant parties

  • Approving project

    The AcSB approved the development of a domestic work plan survey in June 2023

  • Engaging Communities

    Survey issued in October 2023

  • Deliberating feedback

    The AcSB is deliberating feedback received as part of its work plan survey

  • Final pronouncement

    The AcSB considered feedback received from its work plan survey as part of its priorities for the 2024-2025 Annual Plan which has now been finalized

    Learn more

Meeting & event summaries

December 7, 2023

Private Enterprise Advisory Committee Notes – November 8, 2023

The Private Enterprise Advisory Committee discussed potential new projects to assist the AcSB in developing its 2024-2025 Annual Plan. The Committee recommended that the Board prioritize projects concerning the measurement of investments in a related party transaction and related party combinations.

The Committee also discussed the potential costs and benefits of adopting a control-based model for the recognition of revenue currently addressed in Section 3400, Revenue in Part II of the Handbook. The Committee noted that the costs and complexities of moving to a control-based model would likely be significant for private enterprises, and questioned whether it would result in different accounting outcomes for these entities. The Committee suggested that these costs could be reduced if the AcSB provided adequate transition relief to entities.

The AcSB will consider feedback from the Private Enterprise Advisory Committee and the Not-for-Profit Advisory Committee, and the results of its Future Domestic Work Plan Consultation Survey in December 2023 when it begins developing next year’s annual plan.

Disclaimer

This project summary has been prepared for information purposes only. Decisions reported are tentative and reflect only the current status of discussions on this project, which may change after further Board deliberations. Decisions to publish Handbook material are final only after a formal voting process.