FASB STRIKES AGAIN! New Rule for NonprofitsOffers leaders of nonprofit organizations in the United States advice on how to comply with the Financial Accounting Standards Board's "Statement of Financial Accounting S...
The Financial Accounting Standards Board (FASB) sets accounting rules for public and private companies and nonprofits in the United States. A related organization, the Governmental Accounting Standards Board (GASB), sets rules for state and local governments. In recent years, the FASB has been worki...
Nonprofits typically use GAAP, or Generally Accepted Accounting Principles. This is the common set of standards and acceptable methods that are used by businesses in the U.S. The FASB does issue specific standards for non-profit organizations. How Do Businesses And Investors Feel About The New Ac...
FASB to propose delays in major standards The Financial Accounting Standards Board voted in mid-July to propose to delay some of its major accounting standards - including credit losses, leases, hedging and long-duration insurance contracts - for private companies, nonprofits an... M Cohn - 《Ac...
A recent Q&A issued by the Financial Accounting Standards Board (FASB) indicates that nonprofits can apply guidance from the Securities and Exchange Commission (SEC) for applying Topic 740, Income Taxes, as it relates to tax reform.
The Financial Accounting Standards Board (FASB) has issued a new accounting standards update specifically for nonprofits (ASU 2016-14) to improve the current net asset classification requirements and the information presented in financial statements and notes about a nonprofit entity’s liquidity, financi...
New FASB Chairman Richard Jones said in a recent speech that he believes accounting challenges from the coronavirus pandemic won’t go away soon, with his organization poised to address new issues as they arise.
and the Financial Accounting Standards Board sets rules for private sector accounting. Because the FASB's focus is to help investors and creditors make decisions, while the focus of the GASB is to make sure government entities are accountable for the money they receive from the public or taxpayer...
Designed Specifically for Churches. Many nonprofit accounting software packages aren’ttruefund accounting. Generally, they are for-profit accounting software packages that have been rebranded and marketed to nonprofits. Additionally, they work great for small businesses, but unfortunately not for churches...
The Financial Accounting Standards Board is beginning to hear from not-for-profit organizations and their accountants about the far-reaching changes it has proposed in reporting by nonprofits, and finding there are some disagreements, even among FASB's own leaders. In April, FASB issued an accounti...