• 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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Contacts

William Eisig Atlantic Managing Partner 703-336-1401
Laurie De Armond
Laurie De Armond Assurance Partner, National Leader, Nonprofit Assurance Practice Leader 703-336-1453
Adam Cole
Adam Cole Partner and National Leader 212-885-8327
Lee Klumpp
Lee Klumpp National Assurance Partner – Nonprofit & Government 703-336-1497
Tammy Ricciardella Technical Director 703-336-1531
Marc Berger National Director, Nonprofit Tax Services 703-336-1420
Laura Kalick
Laura Kalick Tax Director 703-336-1492
 
Patricia Duperron National Assurance Practice Director-Governmental 616-776-3692
Andrea Wilson RAS Partner 703-752-2784
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