Finding the right match

Article Abstract:

Standards need to be established for the accounting of contributions to nonprofit organizations (NOs). NOs that create reports on financial contributions make use of different accounting methods since contributions possess both capital and revenue characteristics. The Canadian Institute of Chartered Accountants has published draft proposals on new accounting standards for NOs. After careful study, it was concluded that financial managers of NOs can best make use of a hybrid approach that generally categorizes contributions as revenue sources.

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A segmented picture

Article Abstract:

Interviews were conducted among financial analysts, company staff and auditors regarding segment disclosures. Segment disclosures impart to shareholders how well a business enterprise is performing. Although analysts recognize the importance of segment information, many noted the lack of quality reporting of business segments. To deal with the problem, the Canadian Institute of Chartered Accountants has released a research study encouraging companies to increase and at the same time improve segment disclosures.

Reports, Business enterprises, Valuation, Disclosure statements (Accounting)

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Not-for-profits: the conclusion

Article Abstract:

The Canadian Institute of Chartered Accountants has issued six new sections of the 'CICA Handbook' designed to help accountants determine the costs of resources used by non-profit organizations. Topics discussed include capital assets held by non-profit organizations, collections, recognition of contributions as revenue, contributions receivable, financial statement presentation and reporting of controlled and related entities.

Accounting & Auditing Services, Accounting, Tax Preparation, Bookkeeping, and Payroll Services, Religious, Grantmaking, Civic, Professional, and Similar Organizations, Nonprofit Institutions

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