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The Implementation Guidance 

Additional guidance for NPOs applying INPAS, including illustrative financial statements

Additional guidance for NPOs applying INPAS, including illustrative financial statements

INPAS Guidance 

The Implementation Guidance provides additional information about how to apply the concepts and principles in INPAS. It provides an important additional source of guidance for Non-Profit Organisations (NPOs). However, it is non-authoritative, which means that it does not have to be followed. 

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Contents

There is guidance for most INPAS sections, particularly on the NPO specific topics.

This guidance expands on the requirements in INPAS to assist an NPO in understanding those requirements and how they apply to their organisation.

As a principles-based Standard, NPOs will need to consider how the requirements of INPAS apply to their circumstances.

 

Making judgements

INPAS is principles-based. NPOs need to apply the principles to their own situation.

This means judgements need to be made. The Implementation Guidance:

Emphasises that it is an NPO’s management that is responsible for making the judgement.

Emphasises that each judgement is context specific. 

Provides decision trees that take a step by step approach when considering a specific transaction.

Provides key factors to consider when making judgements.

Illustrative examples

Illustrative examples demonstrate the application of INPAS concepts and principles.

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Context specific

Examples illustrate a specific concept or principle using a defined fact pattern and so will not universally apply.

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Numerical

Some examples explain what would be recognised and how the amount would be recognised.

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Explanatory

Some examples provide an analysis of the considerations taken in reaching a judgement.

Illustrative financial statements

The illustrative financial statements are located in the INPAS Implementation Guidance Annex A. They are intended to demonstrate what a set of NPO financial statements might look like. They illustrate some of the choices that an NPO can make about how it presents its financial information.

The illustrative financial statements: 

  • focus on what is new because of INPAS 
  • need to be read alongside the illustrative examples for each Section
  • do not cover every INPAS requirement
Access the Implementation guidance