 Copyright
Notice to Readers  What's New
Guide to Accounting Pronouncements and Sources, Sixth Edition
Significant Differences in GAAP in Canada, Chile, Mexico and the United States
Accounting and Reporting for Enterprises in the Development Stage
Accounting Bases Used in Canadian Government Budgeting
Accounting Changes — Background Information and Basis for Conclusions Section 1506
Accounting for Infrastructure in the Public Sector
Accounting for Tangible Capital Assets — Accrual Budgeting Issues
Accrual Budgeting by Canadian Federal, Provincial and Territorial Governments
Aligning Investment in Information Technology with Business Strategy: What CFOs Need to Consider (June 2005)
Application of Computer-assisted Audit Techniques, Second Edition
Assessing Risks & Controls of Investment Funds
Asset Retirement Obligations - Background Information and Basis for Conclusions Section 3110
Assurance Engagement Working Papers
Audit & Control Implications of XBRL
Audit Enquiry - Seeking More Reliable Evidence From Audit Enquiry
Audit Implications of EDI
Audit Implications of Electronic Document Management
Audit of a Small Entity
Audits of Non-profit Organizations
Canadian Performance Reporting
Cash Distributions — Amendments to Section 1540 — Background Information and Basis for Conclusions (September 2007)
Cash Flow and Other Per Share Information - Background Information and Basis for Conclusions Sections 1540 and 3500
Cash Flow Statements - Background Information and Basis for Conclusions - Section 1540
Comprehensive Income and Equity - Background Information and Basis for Conclusions Sections 1530 and 3251
Confirmation of Accounts Payable
Confirmation of Accounts Receivable
Continuous Auditing
Corporate Reporting to Stakeholders
Costing Government Services for Improved Performance Measurement & Accountability
Data Level Assurance
Differential Reporting - Background Information and Basis for Conclusions - Section 1300
Differential Reporting — Amendments to Section 3062 and AcG-15 — Background Information and Basis for Conclusions
Disclosures by Entities Subject to Rate Regulation - Background Information and Basis for Conclusions AcG-19
Disposal of Long-Lived Assets and Discontinued Operations - Background Information and Basis for Conclusions - Section 3475
Electronic Audit Evidence
Electronic Filing and Reporting - Emerging Technologies and Their Implications
Electronic Filing of Information
Employee Future Benefits - Additional Disclosures - Background Information and Basis for Conclusions - Section 3461
Employee Future Benefits Implementation Guide, Second Edition (Updated November 2001)
Engagements to Audit Greenhouse Gas Emissions Information — Practice Guide
Financial Instrument Disclosures and Capital Disclosures - Background Information and Basis for Conclusions Sections 1535, 3862 and 3863 (July 2007)
Financial Instruments - Recognition and Measurement - Background Information and Basis for Conclusions Section 3855
Financial Instruments — Recognition and Measurement — Background Information and Basis For Conclusions Amendments to Section 3855 (December 2009)
Financial Reporting by Canadian School Boards
Financial Reporting by Investment Funds, Second Edition
Financial Reporting by Rate-regulated Enterprises
Financial Reporting by Small Business Enterprises
Financial Reporting in North America - Highlights of a Joint Study
The First Audit Engagement
Full Cost Accounting from an Environmental Perspective
General Standards of Financial Statement Presentation - Background Information and Basis for Conclusions - Section 1400
Generally Accepted Accounting Principles - Background Information and Basis for Conclusions - Section 1100
Going Concern - Amendments to Section 1400 - Background Information and Basis for Conclusions (June 2007)
Guide for Developing Quality Control Systems in Public Accounting
Hedges - Background Information and Basis for Conclusions Section 3865
The Impact of Technology on Financial and Business Reporting
Impairment of Long-Lived Assets - Background Information and Basis for Conclusions - Section 3063
Improving Disclosures About Financial Instruments (Amendments to Financial Instruments — Disclosures, Section 3862) (June 2009)
Income Taxes - Background Information and Basis for Conclusions - Section 3465
Indicators of Government Financial Condition
Intangible Assets — Background Information and Basis for Conclusions Section 3064 (September 2008)
Interactive Data — Building XBRL Into Accounting Information Systems
Interim Financial Statements - Background Information and Basis for Conclusions - CICA Handbook – Accounting Section 1751
Inventories - Background Information and Basis for Conclusions Section 3031 (June 2007)
Investment Companies - Background Information and Basis for Conclusions - AcG-18
Investment Companies - Amendments to AcG-15 and AcG-18 - Background Information and Basis for Conclusions (June 2007)
Liabilities and Equity - Background Information and Basis for Conclusions - Section 3860
Links between the Budget and the Estimates — Accrual budgeting Issues
Maintaining Quality Capital Markets Through Quality Information
Non-Monetary Transactions - Background Information and Basis for Conclusions Section 3831
 Not-for-Profit Financial Reporting Guide
Foreword Introduction Not-for-profit financial reporting and accounting issues GAAP — Generally Accepted Accounting Principles The 4400 Series — Sections 4400 to 4460 The Not-for-profit Financial Reporting Guide — a valuable companion to the 4400 Series Examples Glossary List of implementation considerations External general purpose financial statements The concept of materiality 1 The First Step Highlights Adapting the organization's existing financial statements to comply with the new standards Choosing between two methods of accounting for contributions Comparability of financial reporting 2 Contributions Highlights Revenues Contributions versus other types of revenues The timing of revenue recognition Frequently Asked Questions Types of contributions Restricted contributions Endowment contributions Unrestricted contributions Frequently Asked Questions Disclosure of contributions by major source Contributed capital assets Contributed materials and services 3 The Deferral Method of Accounting for Contributions Highlights Basic principle underlying the deferral method Applying the deferral method to the different types of contributions Endowment contributions Frequently Asked Questions Restricted contributions Restricted contributions for expenses of future periods Frequently Asked Questions Restricted contributions related to the acquisition of capital assets Frequently Asked Questions Restricted contributions related to the repayment of debt Frequently Asked Questions Restricted contributions for expenses of the current period Frequently Asked Questions Unrestricted contributions Reporting investment income — restricted or unrestricted Investment income note disclosure Disclosure of the accounting policies followed in accounting for contributions Presentation and disclosure of deferred contributions Disclosure of changes in the deferred contributions balances Implementation considerations 4 The Restricted Fund Method of Accounting for Contributions Highlights Accounting principles underlying the restricted fund method General fund Restricted fund Endowment fund Recognition of contributions Frequently Asked Questions Interfund transfers Reporting investment income — restricted or unrestricted Investment income note disclosure Disclosure of the policies followed in accounting for contributions Presentation and disclosure of deferred contributions Implementation considerations and changing the funds reported 5 Contributions Receivable Highlights What is a contributions receivable? Recognition of contributions receivable The deferral method The restricted fund method Frequently Asked Questions Pledges Frequently Asked Questions Bequests Frequently Asked Questions Writing off contribution receivables Disclosure Implementation Considerations 6 Capital Assets Highlights What are capital assets? Frequently Asked Questions Capitalization of capital assets Purchased capital assets Contributed capital assets Allocating the purchase price to individual assets Frequently Asked Questions Accounting for Betterments Capitalization cut-off Amortization of capital assets Determining amortization expense 1. Determine the amount to be amortized 2. Determine the useful life 3. Choose an amortization method Straight-line Declining balance Increasing charge 4. Consider the effect of acquisitions and disposals on amortization Frequently Asked Questions Reviewing amortization Changing the useful life or amortization method Future removal and site restoration costs Write downs of capital assets Disposal of capital assets Presentation and disclosure of capital assets Amortization expense Write downs Capital assets not being amortized Contributed capital assets Implementation considerations Accounting for capital assets by small organizations 7 Collections Highlights What are collections? Frequently Asked Questions Reporting collections A description of the collection The accounting policies followed Significant changes to the collection and any expenditures Proceeds from sale of collection items 8 Reporting on a Fund Accounting Basis Highlights What is fund accounting? Disclosure of the funds' purposes Interfund transfers and balances Frequently Asked Questions Implementation considerations 9 The Statement of Financial Position and the Presentation and Disclosure of Restricted Amounts Highlights What does the statement of financial position show? Classification of items in the statement of financial position Statement of financial position when fund accounting is used Presentation of net assets Frequently Asked Questions Financial statement presentation and disclosure of restricted amounts Presentation of restricted amounts Internal versus external restrictions Frequently Asked Questions Implementation considerations 10 The Statement of Operations Highlights What does the statement of operations show? Classification of items in the statement of operations Deferral versus restricted fund method of accounting for contributions The deferral method of accounting for contributions The restricted fund method of accounting for contributions Frequently Asked Questions Presenting revenues net of expenses Implementation considerations 11 The Statement of Changes in Net Assets Highlights What does the statement of changes in net assets show? Statement presentation requirements Net assets invested in capital assets Statement of changes in net assets (fund balances) when fund accounting is used Frequently Asked Questions Implementation considerations 12 The Statement of Cash Flows Highlights What does the statement of cash flows show? Statement presentation requirements Cash flows from operations Cash flows from financing activities Cash flows from investing activities Non-cash financing and investing activities Presentation of cash flows from operating activities Direct method Indirect Method Presentation of cash flows from financing and investing activities Frequently Asked Questions Implementation considerations 13 Reporting Controlled and Related Entities Highlights Determining whether control or significant influence exists Nature of relationship with other entities What is control? Control over another not-for-profit organization Control over a profit oriented enterprise Examples of control What is joint control? What is significant influence? Examples of significant influence What is economic interest? An example of economic interest Government or other funding relationships Reporting controlled not-for-profit organizations Disclosure of general information Consolidating the financial statements Disclosure of information for controlled not-for-profit organizations that are not consolidated Exception for large numbers of controlled organizations Reporting controlled profit oriented enterprises Disclosure of general information Consolidating the financial statements Using the equity method to account for controlled profit oriented enterprises Disclosure for a controlled profit oriented enterprise that is not consolidated Frequently Asked Questions Reporting joint ventures Disclosure of general information Using proportionate consolidation Using the equity method Reporting significantly influenced entities Disclosure of significant influence over another not-for-profit organization Reporting significantly influenced profit oriented enterprises Disclosure of Economic Interest Dealing with different fiscal periods Implementation considerations 14 Disclosure of Related Party Transactions Highlights What are related parties? Control Joint control Significant influence Economic interest Individuals The degree of influence What is a related party transaction? Disclosure Requirements Description of the relationship The measurement basis Frequently Asked Questions Implementation considerations 15 Accounting Changes Highlights What are accounting changes? Changes in accounting policies Changes in estimates Corrections of errors Reporting changes in accounting policies Retroactive application with restatement of prior periods Retroactive application without restatement of prior periods Prospective application Change in accounting estimate Correction of an error in prior period financial statements Appendix A — Glossary of Terms Appendix B — An Excerpt from the CICA Handbook — Sections 4400-4460 Introduction to accounting recommendations that apply only to not-for-profit organizations Appendix 4400 - Financial statement presentation by not-for-profit organizations 4400 - Financial statement presentation by not-for-profit organizations Purpose and Scope Definitions General Financial Statements Fund Accounting Interfund transfers and balances Statement of Financial Position Disclosure of external restrictions Disclosure of external restrictions — deferral method Disclosure of external restrictions — restricted fund method Statement of Operations Statement of operations — deferral method Statement of operations — restricted fund method Disclosure of gross amounts of revenues and expenses Statement of Changes in Net Assets Statement of Cash Flows Transitional Provisions Appendix A - Sample financial statements Sample financial statements 4410 - Contributions — revenue recognition Purpose and Scope Definitions Restricted contributions Restricted government funding — special considerations Revenue Recognition Contributed materials and services Measurement Disclosure Deferral Method Recognition of endowment contributions Recognition of restricted contributions for expenses of future periods Recognition of restricted contributions for the purchase of capital assets Recognition of restricted contributions for the repayment of debt Recognition of restricted contributions of expenses of the current period Recognition of unrestricted contributions Recognition of net investment income Presentation and disclosure Deferred contributions Net investment income earned on resources held for endowment Restricted Fund Method Recognition of endowment contributions Recognition of restricted contributions reported in restricted funds Recognition of restricted contributions reported in the general fund Recognition of unrestricted contributions Recognition of net investment income Presentation and disclosure Deferred contributions Net investment income earned on resources held for endowment Transitional Provisions Appendix A Overview of key recommendations Organization following the restricted fund method 4420 - Contributions receivable Purpose and Scope Definition Recognition Pledges and bequests Disclosure Transitional Provisions 4430 - Capital assets held by not-for-profit organizations Purpose and Scope Definitions Recognition and Measurement Cost Construction or development over time Betterment Amortization Land and certain works of art and historical treasures Amortization when a fund accounting basis of reporting is used Review of amortization Future removal and site restoration costs Write downs Disposal Presentation and Disclosure Contributed capital assets Capital Assets Held by Small Organizations Transitional Provisions 4440 - Collections Held by Not-for-profit Organizations Purpose and Scope Definition Nature of Collections Disclosure Effective Date 4450 - Reporting Controlled and Related Entities by Not-for-profit Organizations Purpose and Scope Definitions Control Significant influence Economic interest Relationships with funding bodies Presentation and Disclosure of Controlled Not-for-Profit Organizations Consolidated financial statements Controlled organizations that are not consolidated Control over a large number of individually immaterial organizations Presentation and Disclosure of Controlled Profit Oriented Enterprises Presentation and Disclosure of Joint Ventures Disclosure of Significantly Influenced Not-for-Profit Organizations Presentation of Significantly Influenced Profit Oriented Enterprises Disclosure of Economic Interest Financial Information at Different Dates Transitional Provisions Appendix A Appendix B Appendix C Sample disclosures 4460 - Disclosure of Related Party Transactions by Not-for-profit Organizations Purpose and Scope Definitions Identification of Related Parties Disclosure Description of relationship Description of transaction Amount of transactions Measurement basis Amounts due to or from related parties Consolidated financial statements Contractual obligations and contingencies Effective Date Appendix C — Considerations for Implementing the New Accounting Standards for Not-for-profit Organizations I Overall Approach to Recognizing Contributions II Financial Statement Presentation 1. General 2. Statement of financial position (or balance sheet) 3. Disclosure of external restrictions 4. Statement of operations 5. Disclosure of gross amounts of revenues and expenses 6. Statement of changes in net assets (or fund balances) 7. Statement of cash flows 8. Fund accounting and financial statement formats III Contributions 1. Definition of contributions and identification of different types of contributions 2. Recognition of contributions under the deferral method 3. Recognition of contributions under the restricted fund method 4. Contributions receivable 5. Contributed materials and services 6. Disclosure IV Capital Assets 1. Definition of capital assets and exemption for small organizations 2. Capitalization 3. Amortization 4. Future removal and site restoration costs 5. Write downs 6. Disposals 7. Disclosure V Collections VI Reporting Controlled and Related Entities 1. Controlled not-for-profit organizations 2. Significantly influenced not-for-profit organizations 3. Economic interest in another not-for-profit organization 4. Relationships with profit oriented enterprises 5. Joint Ventures 6. Financial information at different dates 7. Transactions with related parties Not-for-Profit Organizations — Background Information and Basis for Conclusions 4400 Series (November 2008)
Professional Judgment and the Auditor
Rate-Regulated Operations — Amendments to Sections 1100 and 3465 and AcG-19 — Background Information and Basis for Conclusions (December 2007)
Reporting on Environmental Performance
The Role of Information Technology in Achieving Sustained Regulatory Compliance
Secure IT Infrastructure for E-commerce
Security for Wireless Systems (revised)
Segment Disclosures - Background Information and Basis for Conclusions - CICA Handbook Section 1701
Stakeholder Relationships, Social Capital and Business Value Creation
Understanding Disclosure Controls and Procedures: Helping CEOs and CFOs Respond to the Need for Better Disclosure
Use of Specialists in Assurance Engagements
Using Graphics in Corporate Reporting
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