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Clarifications Coming to Not-For-Profit Accounting for Nonfinancial Assets
Posted by Allan Klose on Mon, Mar 2, 2020 @ 04:24 PM

By Allan Kose, CPA and David Miller, CPA

The Financial Accounting Standards Board (FASB) recently released a proposed accounting standard update that would affect how not-for-profit organizations account for their nonfinancial assets. Not-for-profit organizations would present contributed nonfinancial assets as a separate line item from contributions of cash or financial assets in their statement of activities.

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Topics: not-for-profit, Audit Committee, NFP, Allan Klose, David Miller

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