FASB Financial Reporting Guidance
For the past two years, we have been closely monitoring updates from the Financial Accounting Standards Board (FASB) regarding the organization’s Not-for-Profit Financial Statement Reporting Project.
On August 18, 2016, the FASB issued ASU No. 2016-14, Not-for-Profit Entities (Topic 958): Presentation of Financial Statements of Not-for-Profit Entities. The new guidance simplifies and improves how not-for-profit entities classify net assets as well as the information presented in financial statements and notes about liquidity, financial performance and cash flows.
We encourage you to reach out to our team with any questions, comments or concerns that you may have regarding the ASU and how it could impact your nonprofit organization. Feel free to leave a question or comment below, or reach out directly to Lee Klumpp.
Below, you will find our compiled resources.
Book
Articles
- “Adjusting to FASB’s New Not-For-Profit Standard” – Accounting Today
- “New Rules to Enhance Transparency of Nonprofits’ Governance” – Bloomberg BNA
- “FASB Releases Not-For-Profit Accounting Standard” – Accounting Today
- “Working with Nonprofits: A Changing World” – Accounting Today
- “Big Changes on the Way for Nonprofit Accounting” – Accounting Today
- “FASB Sees Dissent on Nonprofit Accounting Changes” – Accounting Today
Videos and Podcasts
- FASB’s Changing Classifications for Nonprofit Assets – Accounting Today
- Liquidity Disclosures for Not-for-Profits – Accounting Today
- Changes in Presentation of Expenses for Nonprofits – Accounting Today
- Phase 2 of Nonprofit Standards – Accounting Today
- FASB’s Upcoming Changes in Nonprofit Accounting Standards – Accounting Today
- Trifecta of Accounting Standards Hitting Nonprofits – Accounting Today
- Preparing for Upcoming Nonprofit Accounting Standards – Accounting Today
- Reaction to FASB Nonprofit Accounting Changes – Accounting Today
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