PREPARER SURVEY | Connect.FRASCanada.ca

1.

What sector(s) does your organization operate in? (Select all that apply)

* required

2.

What activities is your organization currently involved in? (Select all that apply)

* required

Charitable activities that provide services to others

Raising funds for the benefit of others (e.g. Foundations)

Providing services on behalf of a government or government organization

Other (please specify)

4.

Accounting Method

What revenue recognition method does your organization currently use?

* required

Restricted fund method

Deferral method

Not sure

5.

Deferral Method

Presentation under deferral method

If your organization applies the deferral method, does your organization apply fund accounting presentation?

Yes, my organization presents the statement of operations on a fund basis

No, my organization does not present the statement of operations on a fund basis

Not sure

Not applicable

6.

Funds presented under the deferral method

If you answered "Yes" to Question 5, what funds does your organization currently present on the statement of operations? Select all that apply.

General fund or similar (e.g. operating fund, unrestricted fund)

Endowment fund

Capital fund

Not applicable

Other fund(s) – please list in the text box below

7.

Restricted fund method

Under the current restricted fund method:

Unrestricted contributions are recognized as revenues of the general fund.
Restricted contributions are recognized as revenues of the restricted fund if a corresponding restricted fund exists, or in the general fund in accordance with the deferral method when no corresponding restricted fund exists.
Endowment contributions are recognized as revenues of the endowment fund.

Funds presented

What funds does your organization currently present on the statement of operations? Select all that apply.

General fund or similar (e.g. operating fund, unrestricted fund)

A single restricted fund

Endowment fund

Capital fund

Multiple restricted funds and/or other fund(s) – please list in the text box below

8.

Recognition of restricted contributions in the general fund

Does your organization recognize any restricted contributions in the general fund (i.e. for which there is no corresponding restricted fund and are therefore recognized using a deferral approach)?

Yes

No

Not sure

9.

Current accounting for capital asset contributions

Capital asset contributions are a specific type of restricted contribution consisting of either funds restricted to the purchase of capital assets or contributions of the assets themselves. Under the current restricted fund method, no specific guidance is provided for capital asset contributions. Therefore, some organizations have established a fund for capital asset contributions and recognize capital asset contributions as revenue when received. Alternatively, some organizations without a designated fund for capital asset contributions account for them under the deferral method – that is, either deferred and amortized into income over the life of the associated asset or recognized directly in net assets for contributions related to indefinite life assets.

How does your organization recognize capital asset contributions?

As revenue of a restricted/capital fund when received

Using the deferral approach in the general fund (i.e. deferred or recognized directly in net assets)

Not sure

My organization doesn’t receive capital asset contributions

10.

Capital Fund

What transactions are reported in the capital fund on the statement of operations (if presented)? Choose all that apply:

Capital asset contributions including contributions restricted to the purchase of capital assets or contributions of the assets themselves

Amortization of deferred capital asset contributions

Amortization of capital assets not contributed and not purchased with capital asset contributions

Gains and losses on disposal of capital assets

Not applicable

Others - please list in the text box below

11.

What issues or challenges do you experience with the existing restricted fund method, including any issues with the accounting requirements and how they are applied in practice?

12.

If you are interested in opportunities to further participate in the AcSB’s Contributions project, please input your name and email address below.