The Financial Accounting Standards Board (FASB) has released two statements (Numbers 116 and 117) that establish standards for external financial reporting by not-for-profit (NFP) organizations and the way in which such organizations account for contributions made and received. These standards, which...
Conditional promises should be recognised only when the conditions are substantially met. The second statement, No. 117, Financial Statements of Not-for-Profit Organisations, sets out the information to be contained in such organisations' external financial statements.Weiss, Susan E...
2004年10月，美国财务会计准则委员会（FASB ）与国际会计准则委员会（IASB ）召开的联合会议上，双方决定将改进并建立共同的财务会计概念框架项目列入联合项目的工作日程，并达成以下意向性协议：第一，趋同的财务会计概念框架初始阶段只针对企业主体（business entities ），嗣后再考虑扩展到其他非营利（not-for-profit ...
The Financial Accounting Standards Board (FASB) will soon issue two statements that will have a major impact on not-for-profit financial reporting. The first, entitled Financial Statements of Not-For-Profit Organizations, deals with the form and content of not-for-profit financial statements. The...
New accounting rules published Tuesday by FASB establish whether and at what threshold an acquired business or not-for-profit organization can apply pushdown accounting. Pushdown accounting occurs in an acquisition when an acquired organization uses the acquirer’s basis of accounting to prepare its fin...
All companies and not-for-profit entitiesRelevant dates July 19, 2021 – FASB issues final ASU April 14, 2021 – FASB reaches final decision on lessor leases with variable payments that would trigger a Day 1 loss if classified as sales-type or direct financing – Tentative Decision February ...
ASU 2020-07 – Not-for-Profit Entities (Topic 958) In order to increase the transparency of contributed nonfinancial assets, the FASB issued ASU 2020-07, which enhances the presentation and disclosure requirements for NFP entities. Contributed nonfinancial assets include donated fixed assets, mater...
Private companies and certain not-for-profit entities may elect a practical expedient to assume current economic conditions as of the balance sheet date will persist throughout the reasonable and supportable forecast period requiring no adjustment to historical loss information to reflect changes in the...
An Accounting Standards Update focuses on the measurement of credit losses for accounts receivable and contract assets for private companies and certain not-for-profit entities. November 27, 2024 New FASB standard addresses induced conversions
958 Not-for-Profit Entities 960 Plan Accounting-Defined Benefit Pension Plans 962 Plan Accounting-Defined Contribution Pension Plans 965 Plan Accounting-Health and Welfare Benefit Plans 970 Real Estate-General 972 Real Estate-Common Interest Realty Associations 974 Real Estate-Real Estate Investment Trusts...