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The Financial Accounting Standards Board has been steadily releasing guidance that may have an impact on your financial statements or those of your grantees. Understanding the impact of these standards on the statements of financial position and activities will aid in future financial statement analysis.
Learning Objectives:
Identify the impact of ASU 2018-08 Clarifying the Scope and Accounting Guidance for Contributions Received and Contributions Made
Discuss the impact of ASU 2014-09, Revenue from Contracts with Customers on the nonprofit sector
Identify future standards/projects that will impact nonprofits including leases, credit losses, gifts-in-kind, and more