What not-for-profits need to know about FASB’s new financial reporting standard

Authored by Gregory Hardy and Michael Wascura

In August 2016, the Financial Accounting Standards Board released Accounting Standards Update (ASU) 2016-14, Presentation of Financial Statements of Not-for-Profit Entities (Topic 958) which outlines the most significant changes to not-for-profit reporting standards since 1993.

Given the potential impact of this ASU on the financial statements presented in accordance with general accepted accounting principles (GAAP), Baker Tilly has developed a guide, with an accompanying practice aid, to assist with implementation of the new standard.

Our ASU 2016-14 guide offers key insights and examples regarding:

  • Effective dates
  • Key provisions
  • Required disclosures
  • Practical implementation steps

Download the guide >

For more information on this topic, or to learn how Baker Tilly not-for-profit specialists can help, contact our team.