1. Start

2. Accounting for contributions received in the form of goods and services

• 2.1. Evaluating the contribution
  • 2.1.1. Evaluating contributions received in the form of goods
  • 2.1.2. Evaluating contributions received in the form of services
• 2.2. Presentation in the financial statements

3. Accounting for non-monetary exchanges (barter exchanges)

• 3.1. Evaluating the exchange
• 3.2. Letter of agreement or contract
• 3.3. Recognition in the organization's books
• 3.4. Presentation in the financial statements

4. Impact of applying the Goods and Services Tax (GST) and Harmonized Sales Tax (HST) and Provincial Sales Tax (PST) where applicable

• 4.1. Exchange of services of equal value
• 4.2. Sponsorship

5. Charitable organizations: charitable donation receipts

• 5.1. Cash donations
• 5.2. Donations of goods
• 5.2.1. Donation of Artwork by the Artist
• 5.2.2. Donation of purchased work
• 5.2.3. Donation of inherited work
• 5.3. Donation of services