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2019 Not-For-Profit Accounting Preview
Posted by Mark Winiarski on Thu, Jan 31, 2019 @ 02:08 PM

Even though the pace of new standard setting has appeared to have slowed, not-for-profit organizations will have no shortage of accounting considerations in the next year. Entities with fiscal year ends will be implementing the changes to their financial statement presentation for the first time, and all organizations will be tackling changes to contribution and revenue recognition accounting. On the horizon are the changes to the leasing standard, which will require analysis of all existing lease agreements. It’s never too early to start working on accounting changes. Getting a jump start on these and other updates may make year-end reporting significantly easier.

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Topics: Mark Winiarski, Financial Statement, not-for-profit

How to Prepare for a Successful Implementation of the New Not-For-Profit Reporting Standards
Posted by Michelle Sylvia Spriggs on Fri, Jan 25, 2019 @ 08:35 AM

Now is the time for not-for-profit organizations to begin implementing the new changes to their financial statements. Changes issued under the Financial Accounting Standards Board (FASB) Accounting Standards Update 2016-14, Presentation of Financial Statements of Not-for-Profit Entities is effective for calendar year-end entities in 2018, and fiscal year-end entities in 2019.

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Topics: not-for-profit, NFP, Michelle Spriggs, nonprofit, Financial Statement, Not-for-profit financial statement

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