This webinar covered the proposals on illustrative financial statements in International Non-Profit Accounting Guidance Exposure Draft 3 (INPAG). This topic is still relevant because:

• Webinar recording
• About INPAG ED3 video (assumed viewing before the webinar)
• Slide deck (pdf) in EN
• Demonstrate your support for the goals of INPAG
• The illustrative financial statements are in the Implementation Guidance Annex A (Page 191) available from ifr4npo.org/ed3.
• Download the template and submit your responses from ifr4npo.org/have-your-say

Here are the questions and comments that were shared by webinar participants:

1. How will the fair market value be determined for the donation-in-kind? For example, 10 laptops were received from donors in 2023. Are there any guidelines?
2. One aspect of NPO’s not specifically covered in the illustrative financials is income tax transactions. In some jurisdictions NPOs may be subject to income tax especially for the non-grant income.
3. Do inventory disclosures needs to be costed or we are just disclosing inventory numbers.
4. Can you just clarify whether ALL FOUR primary statements are required in all cases? Are there any exemptions for small NPOs?
5. Different organizations have different levels of senior management. For remuneration disclosure, is there a specific guidance provided to have the right group captured? (Answer not in the video – Yes, in Section 33).