FASB New NFP Reporting Standards- NADO Professional Development Webinar Series
In 2016, the Financial Accounting Standards Board (FASB) issued an Accounting Standards Update (ASU) intended to simplify and improve how a not-for-profit organization classifies its net assets, as well as the information it presents in financial statements and notes about its liquidity, financial performance, and cash flows. Not-for-profit entities with fiscal years that begin after December 15, 2017 are subject to these changes. Many RDOs have established 501 (c) (3) entities to allow them to enhance their regional development work. Training will cover key changes in net asset classes, investment returns, expense reporting, statement of cash flow, liquidity, and availability.