28122A CARE Canada - June 30 2020 Notes

The portion of the contributions that relates to a future period is deferred and recognized as revenue of the Annual Fund in the period in which the contributions are spent. [...] Use of estimates The preparation of financial statements in accordance with Canadian accounting standards for not-for-profit organizations requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses durin. [...] Significant estimates include assumptions used in estimating the recoverability of project expenditures and the determination of the allowance for doubtful contributions receivable from donors, the allowance for doubtful amounts receivable, the useful life of capital assets, the fair value of restricted investments, the amount of certain accrued liabilities and the fair value of contributions in k. [...] The overall objective of CARE Canada’s investment program is to allocate the assets of CARE Canada in order to support the strategic and operational objectives of the organization. [...] The duration and impact of COVID-19 are unknown at this time and it is not possible to reliably estimate the impact that the length and severity of these developments will have on the financial results and condition of the Organization in future periods.