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Does Your Cost Add Up? Discussion on Cost Allocation

May 11, 2017
1:00 PM to 3:00 PM EST

Gabe Foster
Technical Support:

Technical Support
(BDO Employees):
  • Summary
The new Financial Accounting Standards Board, 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 the financial statements.
Since Nonprofit charity revenues are typically based on contributions from donors to cover programmatic expenses and overhead expenses, recording and allocating those expenses has become an important step in determining functional expenses. The purpose of this webinar is to discuss the concepts of cost allocation and the new disclosure requirements.