Simplifying and Improving Not-for-Profit Financial Statements

General Business

November 01, 2016
by Michelle Anderson, CPA, Rachel Most, CPA

Bookmark and Share
Michelle Anderson Michelle Anderson, CPA
Senior Manager

View Profile
 
Rachel Most Rachel Most, CPA
Senior Manager

View Profile
 
 

In August 2016, the FASB issued ASU No. 2016-14 Not-for-Profit Entities (Topic 958) Presentation of Financial Statements of Not-for-Profit Entities (ASU). The ASU is Phase I of the FASB project to update the financial statement presentation and disclosures for not-for-profit entities. It’s intended to improve the current net asset classification and the information presented in the notes about a not-for-profit’s liquidity, financial performance, and cash flows. The changes are expected to improve the usefulness of information provided to financial statement users and/or reduce complexities or costs for preparers or users of the financial statements.


Average Rating:

Length: 2 pages (PDF 86 kB)



Rate this Article
*  =  required fields
Your Rating*
Name*
E-mail Address*
Company