Not-for-Profit Essentials: The New FASB Project on Financial Reporting [White Paper]
September 9, 2016 - By: SC&H Group
Key Changes to Understand for Implementation
In today’s changing regulatory environment, not-for-profit (NFP) entities must be adept at complying with new reporting requirements.
Such is the case with the Financial Accounting Standards Board’s (FASB) Accounting Standards Update No. 2016-14, Not-for-Profit Entities (Topic 958): Presentation of Financial Statements for Not-for-Profit Entities.
Changes resulting from the update will have a significant impact on financial statements and require NFPs to put substantial effort into developing an implementation plan.
In this white paper, we summarize the update’s major changes and reasons behind them, thereby allowing your organization to become familiar with the terms and prepare accordingly.
Discover more about the five areas that will be most impacted during Phase I (released August 2016) and Phase II (to be released following the resolution of proposed changes).
Download now to learn more