Finance Affinity Group - 2016 Accounting Standards Update

The Financial Accounting Standards Board (FASB) recently issued Accounting Standards Update (ASU) 2016-14, Not-for-Profit Entities: Presentation of Financial Statements of Not-for-Profit Entities. The new guidance requires improved presentation and disclosures to help not-for-profits (NFPs) provide more relevant information about their resources – and changes in those resources – to donors, grantors, creditors and other users of their financial statements.