When NPOs make or receive grants in foreign currency, this can give rise to gains or losses, according to the terms of the grant agreements. How should they be calculated? How should they be presented?
We held a webinar to address this topic. You can access the recorded webinar here.
This video (November 2023) explains the proposals for Foreign Currency Translation in INPAG ED2. Click on ‘Watch on YouTube’ to view in French and Spanish.
Watch this video to learn more about proposals in ED2 relating to:
To read the latest proposals for accounting for grant expenses, read the International Non-Profit Accounting Guidance (INPAG) Exposure Draft 2, Section 30: available here.
The Consultation Paper issued in January 2021, listed 22 topics where there were potentially unique issues for NPOs, of which 10 were prioritised for attention in INPAG. Foreign currency was not initially selected in the top 10 issues, according to the criteria set out. Feedback on the consultation made it clear that this was a very important issue for stakeholders, and it was added to the priority list, as communicated in a webinar in February 2022. During 2022 and 2023, the Technical and Practitioner Advisory Groups (TAG and PAG) have reflected on the responses and given feedback on the development of draft guidance for inclusion in INPAG ED2. The responses to ED2 are being considered as the guidance is finalised.
