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.

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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