This blog will cover the second phase of the International Non-Profit Accounting Guidance by looking at Exposure Draft 2 and its proposed guidance for nonprofits. The goal of the INPAG project is create a global nonprofit financial reporting framework. ED2 focuses on providing guidance that amends current IFRS for SMEs which will serve as the base of the new guidance. The ifr4npo website has great explainer videos that details the proposals. Comments are due March 15, 2024.