Keeping Up with Nonprofit Accounting: New GAAP Rules
Instructor: Kay Sohl
The Financial Accounting Standards Board (FASB), the folks who make the rules for GAAP (generally accepted accounting principles) have announced major changes in how nonprofits record and report their financial information, including the first significant change in the treatment of restricted gifts and endowments since the mid 1990s.
Learn more about key changes including:
- New treatment of restricted gifts and grants and the net assets that result from receiving them
- New accounting treatment for endowments and quasi endowments
- Clarification of definition of management and general expenses
- New disclosure requirements for cost allocation methods
Nonprofits will be required to implement the changes for fiscal years beginning after December 15, 2017. Learn practical steps to evaluate the impact of the changes on your financial reporting and begin preparing to implement the new guidance.
Access to this recording will expire on June 30, 2018, and is subject to availability of the AdobeConnect service.
Photo by Thought Catalog on Unsplash