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New Financial Reporting Rules for Nonprofit Organizations

Wednesday, September 14, 2016   (0 Comments)
Posted by: Kelly Koepsell
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https://www.councilofnonprofits.org/thought-leadership/fasb-s-new-financial-reporting-rules-nonprofit-organizations-what-you-need-know#

FASB’s New Financial Reporting Rules for Nonprofit Organizations | What You Need to Know

 

What are the goals of the new rules?

The FASB’s goals for the new rules are to provide better information to donors, grantmakers, creditors, and others who read nonprofit financial statements. The new rules will improve how a nonprofit organization can tell its story through its financial statements.  FASB hopes the changes will improve the usefulness of nonprofit financial statements and/or reduce complexities and costs of financial reporting.