FASB has a new requirement for all not-for-profits to present a statement of functional expenses, or equivalent. Now is a good time to review your expense allocations and get ready for full disclosure and to ensure the methodology is in line with your federal indirect-cost-rate calculation. Attendees will learn:
• A summary of the new disclosure requirements
• What is required and what is allowable by GAAP for functional allocation of expenses
• Comparing and contrasting GAAP expense allocations with indirect cost allocations for grants and contracts
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