New Financial Statement Reporting Standards for Not-for-Profit Entities

Are you ready for significant changes to the financial statements of not-for-profit organizations?

The Financial Accounting Standards Board (FASB)  recently released Accounting Standards Update (ASU) 2016-14 Not-for-Profit Entities (Topic 958): Presentation of Financial Statements of Not-for-Profit Entities. ASU 2016-14 is the result of a multi-year FASB project conducted to review the financial reporting for not-for-profits that has been in place for over 20 years. As a result of this project, the FASB identified several areas that needed improvements or updates to provide better information to those that rely on the financial statements issued by not-for-profits. Tune into the webcast to find out more about the requirements and what your organization will need to do to be in compliance with the new standards. Led by Andrew Prather (Clark Nuber Accounting), with Dean Frerker (The 5th Avenue Theatre) and Diane Wright (Village Theatre).

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