With Growth, Nonprofits Face Evolving Regulation
Amid technology advancements and a recovering economy, nonprofits’ capabilities are becoming more sophisticated, and so too, are the requirements being pressed upon them.
Organizations will need to understand and address the impact of regulatory changes and evolving reporting requirements—such as the Uniform Guidance, the new revenue recognition standard (ASC 606) and the FASB’s Not-For-Profit Financial Statement Reporting Project.
In Accounting Today’s
recent report, “Working with Nonprofits: A Changing World,” our own Lee Klumpp provides his insights
on the changes on the horizon and how accountants and advisors can better serve their organizations in the year ahead. Click here to see the full report: http://bit.ly/20r9Wii
For more information, visit: FASB’s Not-For-Profit Financial Resource Center
For timely information on transitioning to ASC 606 and applying it to your organization, visit BDO’s Revenue Recognition Resource Center here