Model Financial Statements – Private sector NFPOs
Part III of the CPA Canada Handbook – Accounting

Model Financial Statements – Private Sector NFPOs
Part III of the CPA Canada Handbook – Accounting

The Model Financial Statements – Private Sector NFPOs – Part III of the CPA Canada Handbook – Accounting include several sets of financial statements prepared in accordance with the accounting standards in Part III of the CPA Canada Handbook – Accounting for private sector not-for-profit organizations as well as the standards in Part II that apply to NFPOs.

These model financial statements include several distinct models prepared for entities that already apply the accounting standards for private sector not-for-profit organizations. Financial statements for first-time adopters of these standards are also presented. These first-time statements include the reconciliation of opening balances required under FIRST-TIME ADOPTION BY NOT-FOR-PROFIT ORGANIZATIONS, Section 1501, in Part III of the CPA Canada Handbook – Accounting. In addition, each set of financial statements is also accompanied by notes to the financial statements, comments and illustrative audit or review engagement reports.

They were designed to apply to a wide variety of situations and to set out examples of various options made available by the standards respecting financial statement presentation and content. At the end of the first section of this publication, a summary table entitled General Comments summarizes these situations and options and will help readers to select the model most suitable to their situation.

Because each engagement is unique, Model Financial Statements – Private Sector NFPO online version includes access to sample financial statements on Knotia.ca in Word and PDF format that will help you create statements to meet the needs of your clients and your business.

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