BUS 420 Chapter Notes - Chapter 12: Deferred Income, Fund Accounting, Buyout
14 Sep 2016
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In part iii of the cpa canada handbook. Entities, normally without transferable ownership interest, organized and operated exclusively for social, educational, professional, religious, health, charitable, or any other not-for-profit purpose. A nfpo"s members, contributors, and other resource providers do not, in such capacity, receive any financial return directly from the organization. Differ from profit-oriented organizations in the following ways. Typically provide services or goods to identifiable segments of society with the expectation of profit to fulfil its objective. Resources are provided by individual and government contributors without the expectation of gain or repayment. Have no readily identifiable ownership interest that can be sold, transferred, or redeemed. Are governed by volunteers, although some nfpos have paid employees. Has a choice to follow the cpa canada public sector accounting (psa) Handbook including the 4200 series or without the 4200 series. Includes nfpos that are not controlled by the government.
