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Tentative decision to provide a choice of standards for not-for-profit organizations
In December 2008, the AcSB and the Public Sector Accounting Board (PSAB) issued a joint Invitation to Comment, “Financial Reporting by Not-for-Profit Organizations (NFPOs),” to solicit the views of stakeholders with respect to a strategy for setting standards for this sector.
The AcSB began deliberations on the comments received on the Invitation to Comment at its September 2009 meeting. At its October 2009 meeting, the AcSB approved the development of an Exposure Draft (ED) addressing the future direction for setting standards for the not-for-profit sector and the timing of the changeover from existing standards.
Here is an overview of the tentative decision expected tp be elaborated in the ED:
The AcSB indicated that the Exposure Draft would be issued early in 2010.
This Week in Review
Standard-setting Activities Digest
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