The financial reporting standards that must be used by not-for-profit organizations are determined in Canada by the Accounting Standards Board and the Public Sector Accounting Board. New rules for accounting standards for not-for-profit organizations are effective January 1, 2012.
Is your company making the transition to Accounting Standards for Private Enterprises (CICA Handbook, Part II)? Do you have employees in a defined benefit pension plan? You should know that the Accounting Standards Board has approved amendments to CICA 1500, "First-time adoption" and Section 3461, "Employee future benefits"...
Established in 1995, First Reference provides organizations with practical and authoritative resources to help ensure compliance with constantly changing Canadian legislation and best practice