What Reporting Choices Are Given to Canadian Private Not-For-Profit Organizations

question 53

Multiple Choice

What reporting choices are given to Canadian private not-for-profit organizations?

• A) They may report under the Accounting Standards for Private Enterprises (ASPE) found in Part II of the CPA Canada Handbook without modification.
• B) They may report using the standards found in Part III of the CPA Canada Handbook and apply Part II (ASPE) to the extent that the Part II standards address topics not addressed in Part III.
• C) They may report under the International Financial Reporting Standards (IFRS) modified by the standards found in Part III of the CPA Canada Handbook.
• D) If the NFPO was formed prior to 2010, they may continue to report in accordance with the Canadian standards for not-for-profit enterprises that existed prior to 2011-2012.

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Definitions:

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CAN-SPAM Act

A law in the United States that sets the rules for commercial email, establishes requirements for commercial messages, and gives recipients the right to have emails stopped from being sent to them.

Unsolicited E-Mail

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