Ellin & Tucker Offices
AccountingToday

FASB Proposes Major Changes in Nonprofit Accounting

By:

Featuring: Carl Kampel & Kim Fusco

The Financial Accounting Standards Board has issued a proposed accounting standards update to improve the information provided in not-for-profit financial statements and notes to financial statements that could have major implications for nonprofit organizations.

FASB previewed some of the changes in March (see FASB Proposes Accounting Standards Changes for Nonprofits and Big Changes on the Way for Nonprofit Accounting).

“The proposed ASU contains recommended enhancements to the fundamental reporting model for not-for-profit organizations—a model that has existed for more than 20 years,” said FASB member Lawrence W. Smith in a statement. “We believe that these changes will refresh the model in ways that will make not-for-profit financial statements even more useful to donors, lenders, and other users.”

 

To read more, click on FASB Proposes Major Changes in Nonprofit Accounting.

Contact Us

Required Fields *

First Name *

Last Name *

Email Address *

Phone

Mailing Address

Services of Interest
 Accounting Services Audit Services Business Valuation Consulting Project Corporate Tax Family Wealth Practice Forensic Accounting Litigation Support Individual Tax

Other (Please Specify):

 I'd like to receive news and updates from Ellin & Tucker

Comments *

Join Our Mailing List

Industry
Entity