Project Update

Conceptual Framework—Phase G: Applicability to the Not-For-Profit Sector (Inactive)

Latest revisions:  As of 4, February 2008 (Updated sections are indicated with an asterisk *)

This project update summarizes the project activities and decisions of the IASB and FASB (the Boards). It was prepared by the staff and is for the information and convenience of the Boards’ constituents. All decisions of the Boards are tentative, may change at future Board meetings, and do not change current accounting and reporting requirements. Decisions of the Boards become final only after extensive due process.

*Project Objective
*Decisions Reached at the Last Meeting
*Summary of Decisions Reached to Date
*Board/Other Public Meetings
*Contact Information

*Phase Objective

The objective of Phase F, Applicability to the Not-For-Profit Sector, is to consider the applicability of the concepts developed in earlier phases to not-for-profit entities in the private sector.

*Decisions Reached at the Last Meeting

IASB Update April 2007
FASB Action Alert—April 23, 2006 joint meeting

*Summary of Decisions Reached to Date

This phase is currently inactive. The Boards have not yet deliberated or made decisions regarding the applicability of particular concepts to not-for-profit entities.

The Boards directed the staff to focus on the near-term priorities and the first four phases of the project before beginning work on the applicability of the conceptual framework to not-for-profit entities.

*Board/Other Public Meetings

View the FASB and IASB meeting handouts, minutes, and updates.

*Contact Information

Li Li Lian
IASB Project Manager
llian@iasb.org