Are you ready to implement FASB ASU 2016-14? Join Gelman, Rosenberg & Freedman CPAs for an in-depth look at the new standard and learn how your nonprofit’s management can leverage it to your advantage.
FASB’s Accounting Standards Update (ASU) 2016-14 became effective for annual financial statements for fiscal years beginning after December 15, 2017, and for interim periods within fiscal years beginning after December 15, 2018. The update affects the reporting requirements in a way that forever changes how organizations present information to donors and other stakeholders.
No matter where your nonprofit falls on the implementation spectrum, understanding the necessary changes, the additional information required, as well as the options available for presentation is essential.
Our presenters will address:
- Reducing the number of new asset classifications
- Reporting of expenses by nature and function with enhanced disclosures regarding cost allocations
- New qualitative and quantitative disclosures regarding liquidity
- Reporting the expirations of capital restrictions
- Additional disclosures regarding restricted donations including underwater endowments
- Other topics related to implementation
Join us for an interactive discussion and learn how your organization should respond to stay ahead of the curve. You’ll come away with practical knowledge and tools to help your organization tackle some of its biggest challenges.