This summary of decisions of the Public Sector Accounting Board (PSAB) has been prepared for information purposes only. Decisions reported are tentative and reflect only the current status of discussions on projects, which might change after further deliberations by PSAB. Decisions to publish exposure draft and Handbook material are final only after a formal ballot process.
For more detailed information about PSAB projects, please refer to the project summaries under Projects. |
GAAP for Government Not-for-Profit Organizations (GNFPOs)
PSAB approved an Exposure Draft (ED) for comment proposing to adopt the accounting standards pertaining to not-for-profit organizations in Part V of the CICA Handbook – Accounting, specifically Sections 4400 – 4470, for use by GNFPOs in Canada. The ED proposes that the PSA Handbook would include a 4400-series Introduction that would apply only to GNFPOs and would guide them in their application of the PSA Handbook. Further, the ED proposes that GNFPOs would continue to apply the standards in Part V of the CICA Handbook – Accounting until a mandatory effective date is determined. The ED is expected to be released in March 2010. Strategic Plan for 2010-2013 and Work Plan for 2010-2011
PSAB discussed revised drafts of the Strategic Plan and Work Plan. PSAB directed staff to present the documents to the Accounting Standards Oversight Committee (AcSOC) at its meeting in February for review and comment. Staff will present the documents to the Board for approval in March, after which the Strategic Plan will be posted to the website for public comment. Performance Report for 2009-2010
PSAB discussed a draft Performance Report and directed staff to present it to AcSOC at its February meeting. |