The AICPA’s Not-for-Profit Entities Audit & Accounting Guide just received a necessary overhaul, according to Frank Jakosz, Director of Not-for-Profit & Social Enterprise Services at Frost, Ruttenberg & Rothblatt, P.C. (a DFK Affiliate of Ellin & Tucker).
This is the first comprehensive revision of the guide since 1996. “Almost 20 years have passed since the original guide was published. It was time to perform a complete overhaul as the revised version now addresses diversity in practice, current issues and over 100 NFP questions posed by AICPA members” said Jakosz, a current member and most recent past chair of the AICPA NFP Expert Panel.
Click on the following link to hear a 40 minute podcast recorded by the AICPA that discusses the accounting changes within the Not-For-Profit industry.