|Accounting Standards Board
The Institute of Chartered Accountants of India
10th October, 2023
|Exposure Draft of International Non-Profit Accounting Guidance (INPAG) Part 2
The preparation of financial statements is crucial for accountability and decision-making and for trust and confidence in NPOs. However, there are no common international accounting standards for NPOs, unlike in the private and public sectors. The International Financial Reporting for Non-Profit Organisations (IFR4NPO) project aims to respond to these issues by strengthening NPO governance and financial management through the development of internationally applicable financial reporting Guidance for non-profit organisations.
ED2 is the second of three Exposure Drafts that will be published and taken together will comprise the full INPAG. The focus of ED2 is on some of the key accounting transactions that are relevant for NPO financial reporting. It includes:
Further clarifications on this Exposure Draft may be sought by e-mail to email@example.com