e-Book: Guidance on New Nonprofit Financial Statement Reporting Framework
Running a sustainable nonprofit is complicated, especially with regulatory changes that impact the organization’s human resources, business processes, and IT systems. Nonprofits are now grappling with implementing a new financial statement reporting framework, that represents the most substantial improvement to financial reporting guidance in two decades.
This Accounting Standards Update, ASU 2016-14, Not-for-Profit Entities (Topic 958); Presentation of Financial Statements of Not-for-Profit Entities, affects substantially all nonprofits as well as creditors, donors, grantors, and others that use their financial statements.
Understanding and implementing accounting standards can be complex, time-consuming,
and often requires requisite skills and expertise not usually found on internal finance teams. At AAFCPAs, we take these client challenges to heart. We provide financial management assistance on complex technical accounting issues, allowing clients to confidently apply the standards with greater efficiency and ease.
Our guidance is founded on four decades of experience providing nonprofit clients with incisive financial knowledge and strategic management advice. As the sector evolves, we embrace the opportunity to continue to collaborate with our clients to drive financial and operational improvements that will help them thrive!
Contents
- Liquidity Considerations
- Net Asset Classification Considerations
- Expense Reporting Considerations
- Underwater Endowment Considerations
- Investment Return Considerations
- Statement of Cash Flow Considerations
- Related Insights
