[Infographic] 5 Biggest Changes to Nonprofit Financial Statements

September 2017

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In August 2016, the Financial Accounting Standards Board issued an Accounting Standards Update (ASU) designed to improve the clarity and utility of nonprofit financial statements. As organizations look to implement these changes, questions are sure to emerge around how the key aspects of the ASU will change the look of their financial statements.  

Regardless of size or scope, nonprofit CFOs are or will soon be fielding questions on the ASU from both board members and donors, and communicating effectively is key to managing this transition. We’ve developed this checklist to educate CFOs about five of the most important areas of change in their financial statements, and equip them to address these changes with stakeholders.