From the Editor

To close this volume of The Philanthropist, we focus primarily on management issues. Vic Murray gives us the benefit of his long experience in the sector by advising how to build better boards. Bruce Levine reports on the findings of the United Way of Lower Mainland, B.C., which conducted a survey of financial management practices…

Bookshelf

Foundation Management in Canada: An Introduction for Trustees By Milton K. Wong, Leopold Amighetti, Jane Butterfield and Patti Ryan Published by M.K. Wong & Associates Limited, Vancouver, B.C. REVIEWED BY COLIN GRAHAM Vice President, Finance and Administration, Royal Conservatory of Music, Toronto Investment management is becoming increasingly complex and competitive. Foundations are not simply financiers…

Accounting Standards for Not-For-Profit Organizations: A New Direction

Introduction In March 1996, The Canadian Institute of Chartered Accountants released new accounting recommendations! that will dramatically affect the way many not-for-profit organizations account for capital assets and contributions and change the basic financial statement presentation for such organizations. The new recommendations should make not-for-profit organizations’ financial statements easier to understand and reduce inconsistent accounting…

Not-for-Profit Organization Accounting: CICA Re-Exposes Recommendations

Introduction In Canada, standard setters have been focusing on the development of accounting standards for not-for-profit organizations over the last decade and a half. The process commenced with a 1980 research study 1 that proposed a uniform set of accounting principles and reporting practices. Most recently, in December 1993, The Canadian Institute of Chartered Accountants…

From the Editor

For the past several years the custodians of accounting principles have been working to adapt their general rules to not-for-profit organizations. We have run a number of articles on that work, most recently in Volume XI, when the Canadian Institute of Chartered Accountants released its Exposure Draft of proposed principles of adaptation. CICA has now…

From the Editor

We open a new volume of The Philanthropist on a different footing: quarterly if possible, but not necessarily quarterly. In the early years under founding editor Bertha Wilson and her successor Mary Louise Dickson it was the journal’s policy to publish “sporadically”, whenever a sufficient number of quality articles had been submitted. ยท In the…

Putting The Cart Before the Horse: Accounting Standards for NPOs Without a Conceptual Framework

Accounting policies for nonprofit organizations have come under considerable scrutiny in recent years. An influential segment of the accounting profession is pushing for accounting policies that are virtually identical to those used in business. Many individuals and organizations in the voluntary sector, however, are actively opposing the suggested changes.1 The proposed changes in accounting policies…

CICA Exposure Draft: “Non-Profit Organizations”

Introduction In January 1992, The Canadian Institute of Chartered Accountants (CICA) issued an Exposure Draft entitled “Non-Profit Organizations” which makes a number of proposals related to some significant and controversial issues. If adopted, it would require many organizations to make substantial changes in their accounting and/or financial-statement presentations. The CICA Handbook (CICA, “Financial Statement Concepts”,…

CICA Exposure Draft: A Comment

A small group within the Canadian Institute of Chartered Accountants (CICA) has suggested that several major changes be made to financial reporting by nonprofit organizations (CICA. Exposure Draft. “Non-Profit Organizations”.) For example, they want long-lived items such as equipment set up as assets and then amortized each year. These changes will tend to be costly…

Bookshelf

Self-Help Accounting: A Guide for the Volunteer Treasurer By John Paul Dalsimer Published by Energize Books, 5450 Wissahickon Avenue, Lobby A, Philadelphia, PA 19144, 1989, $20.50 US. REVIEWED BY JOHN D. GREGORY Treasurer, Poculi Ludique Societas, Toronto The love of money is not the root of all evil but the ignorance of money is the…