• FASB Financial
    Reporting Guidance

For the past two years, we have been closely monitoring updates from the Financial Accounting Standards Board (FASB) regarding the organization’s Not-for-Profit Financial Statement Reporting Project.

On August 18, 2016, the FASB issued ASU No. 2016-14, Not-for-Profit Entities (Topic 958): Presentation of Financial Statements of Not-for-Profit Entities. The new guidance simplifies and improves how not-for-profit entities classify net assets as well as the information presented in financial statements and notes about liquidity, financial performance and cash flows. Read the full Accounting Standards Update.

We encourage you to reach out to our team with any questions, comments or concerns that you may have regarding the ASU and how it could impact your nonprofit organization. Feel free to leave a question or comment below, or reach out directly to Lee Klumpp.

Below, you will find our compiled resources.

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Nonprofit Standard Blog Posts
Nonprofit Standard Newsletter Articles
FASB Resources   


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Contacts

William Eisig
William Eisig Atlantic Managing Partner 703-336-1401
Marc Berger - BDO Greater Washington, D.C.
Marc Berger National Director, Nonprofit Tax Services 703-336-1420
Lee Klumpp
Lee Klumpp National Assurance Partner – Nonprofit & Government 703-336-1497
Tammy Ricciardella
Tammy Ricciardella National Assurance Director, Nonprofit Government 703-336-1531
Andrea Wilson - BDO McLean
Andrea Wilson Principal; Nonprofit & Education Advisory Services Leader 703-752-2784
Susan Friend
Susan Friend National Assurance Director - Nonprofit & Government 954-626-2964
See all contacts

Events

September 24, 2019
Information Technology is a rapidly evolving space that organizations can leverage to be a business enabler. However, the evolution of Information Technology has also brought with it increased risks and regulatory requirements.
November 19, 2019
Agile IA is the mindset an internal audit function can adopt to focus on stakeholder needs, accelerate audit cycles, drive timely insights, reduce wasted effort and generate less documentation while delivering high impact results.