Nonprofit Accounting Basics

Financial Statements and Reporting

Auditor’s Reports Will Soon Look Different

Auditor’s reports will look different for audits of financial statements for periods ending on or after December 15, 2020.

Availability and Liquidity Disclosure

With the existing Liquidity and Availability disclosures required for non-profit organizations, there is certain qualitative and quantitative information that should be disclosed.

Changes to Fair Value Disclosure requirements - What You Need to Know

The FASB’s new guidance in ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement, impacts the fair value d

Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement

As part of FASB’s ongoing initiative to improve the effectiveness of the notes to the financial statements, modifications were made to the fair value measurement disclosures.  On August 28, 20

Presentation and Disclosure Requirements in ASU 2020-07 for Gifts-in-Kind

The Financial Accounting Standards Board (FASB) has issued an accounting standards update ASU No.

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