Read more about the current Greenbook proposals. ...
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On April 22, 2015, the Financial Accounting Standards Board (FASB) released the long-awaited exposure draft for the proposed accounting standards update, Not-for-Profit Entities (ASC Topic 958) and Health Care Entities (ASC Topic 954): Presentation of Financial Statements of Not-for-Profit Entities.
As expected, significant provisions include:
These proposed changes represent the largest shift in not-for-profit reporting since the implementation of FAS 116 and FAS 117 in the mid-1990s, and will impact organizations across the entire not-for-profit sector. Over the coming months, we will be highlighting each provision of the Proposed Standard in a Financial Reporting Series, in order to take a deeper dive into the Standard and the potential impact to the sector. The comment deadline is August 20, 2015. We encourage organizations to familiarize themselves with the Proposal. Your feedback will be critical in the development of the final Standard. Read the complete copy of the FASB exposure draft for the proposed accounting standards update, Not-for-Profit Entities (ASC Topic 958) and Health Care Entities (ASC Topic 954): Presentation of Financial Statements of Not-for-Profit Entities.
Read more about the current Greenbook proposals. ...
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