Frequently asked questions about the overhaul of Nonprofit accounting
FASB has released three in a series of FAQs about the exposure draft that will drastically change accounting for all nonprofit organizations.
- The first Q&A provides background and general discussion. One of the main goals of the exposure draft is to improve reporting and disclosures about liquidity. The FAQ links to the exposure draft and a May 2015 webcast discussion.
- The second Q&A goes into some detail on specific issues.
- The third Q&A explains some alternatives available within the exposure draft.
Watch for more FAQs in the future.