The Financial Accounting Standards Board is getting ready to unveil a set of proposals that could have a major impact on the way nonprofit organizations present their financial statements.
The board voted earlier this month to issue a proposed accounting standards update that would include improvements to the current net asset classification scheme and the required information about an organization’s liquidity, financial performance and cash flows (see FASB Proposes Accounting Standards Change for Nonprofits). FASB plans to issue the proposals in mid-April and ask for public comments.
Register or login for access to this item and much more
All Accounting Today content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access