posts tagged as FASB


By Tammy Ricciardella | April 24, 2019

Lessons Learned from Implementing ASU 2016-14 – Functional Expenses

Since the Financial Accounting Standards Board released their massive Accounting Standards Update (ASU) for nonprofit financial reporting, one area has caused significant stress—functional expenses. In our latest blog post, Tammy... read more


By Amber Williams | August 01, 2018

What Restaurants Should Watch Out for with the New Revenue Recognition Standard

Private restaurants can prepare now for the new revenue recognition standard’s impact on accounting for gift card breakage, loyalty programs and more. read more


By Lee Klumpp | June 21, 2018

Are Grants Subject to Revenue Recognition?

Today, the Financial Accounting Standards Board (FASB) issued clarified guidance on accounting for contributions. To help nonprofits understand the changes, the Nonprofit Standard blog outlines a practical example of how to classify a... read more


By Lee Klumpp | May 09, 2018

A New Tool for Evaluating Nonprofit Financial Fitness

How can you determine if your nonprofit is financially fit? Liquidity is an important part of the equation. Learn more about liquidity and new disclosure changes in our latest blog. read more


By Ryan Praschan | May 08, 2018

How to Evaluate Going Concern

What responsibilities do restaurant management have in evaluating going concern and disclosing uncertainties? Read our new Selections post for an overview of the FASB guidance, as well as considerations for evaluating an entity’s ability... read more


By Restaurant Practice Leaders | April 26, 2018

Podcast: 7 Steps to Revenue Recognition Readiness

What prompted the FASB to release its new revenue recognition standard, and how can nonprofits prepare? BDO’s Lee Klumpp and Carla DeMartini answer these questions and more in a recent New York Nonprofit (NPN) Media podcast. read more


By Restaurant Practice Leaders | April 12, 2018

Nonprofits Can Apply SEC Guidance Related to Tax Reform – FASB Q&A

A recent Q&A issued by the Financial Accounting Standards Board (FASB) indicates that nonprofits can apply guidance from the Securities and Exchange Commission (SEC) for applying Topic 740, Income Taxes, as it relates to tax reform. read more


By Nonprofit Practice Leaders | December 19, 2017

The Winter 2017 Nonprofit Standard Newsletter is Live!

BDO’s Winter Nonprofit Standard Newsletter is live! Read the latest edition to learn more about some of the biggest opportunities and challenges facing nonprofits in 2018, from increased blockchain adoption to compliance with the latest... read more


By Lee Klumpp | November 16, 2017

FASB Clarifies How Nonprofits Should Characterize Contributions

On August 3, the Financial Accounting Standards Board (FASB) issued a proposed Accounting Standards Update (ASU), “Clarifying the Scope and the Accounting Guidance for Contributions Received and Contributions Made.” The ASU is intended... read more


By Carrie Shagat | August 03, 2017

FASB Accounting Updates and Amendments for Restaurants

The Financial Accounting Standard Board (FASB) has been busy over the past several years making technical corrections and improvements to existing standards and in some cases, creating new standards. The new standards are set to... read more