Webinar: Cost Allocation Changes Under FASB ASU 2016-14
Join us this Thursday, May 11, from 1-3 pm ET, for the next installment of the BDO KNOWLEDGE Nonprofit & Education Webinar series to discuss new disclosure requirements and changes to cost allocation from the Financial Accounting Standards Board (FASB). Accounting Standard Update (ASU) 2016-14, Not-For-Profit Entities (Topic 958), Presentation of Financial Statements of Not-For-Profit Entities,
requires NFPs to disclose the methodology for allocating costs in the notes of their financial statements.
Recording and allocating programmatic and overhead expenses has become an important step in determining functional expenses for nonprofits, particularly since many organizations receive government funding. To understand the new reporting requirements the ASU brings up, participants will hear from Lee Klumpp
, national technical director in BDO’s Nonprofit and Education practice and Andrea Wilson
, managing director in BDO’s Nonprofit & Education Advisory practice on:
- Allocable cost, overhead expenses, and various allocation methodologies
- The new requirement for reporting expenses in a NFPs financial statements
- The new disclosure requirements related to allocation of expenses
Participants will earn two CPE credits in the field of Accounting. Learn more and sign up here
If you can’t make it on the 11th
, stay tuned to this page and at @BDONonprofit
on Twitter for a podcast recording.