We are really proud of our new video, revealing that the Guidance being developed by the IFRANPO project has been given a name. In some countries, it’s considered premature to give a baby a name before it is born, but we have gone ahead to call it International Non-Profit Accounting Guidance, and even agreed on some of its key features.
INPAG will be a stand-alone Guidance, so that preparers and auditors can find what they need in one place. Using the IFRS for SMEs Accounting Standard as a starting point, changes will be made to address the prioritized non-profit issues. The application will be up to each jurisdiction, but the NPOs we have in mind during the development process need to track assets and liabilities and report on a range of transactions and activities to meet the needs of the users of their financial reports.
Check out this short video which has been produced in English, Please watch the video
For more information .Visit: https://www.ifr4npo.org/