Not-for-Profit Entities: Financial Statement Presentation (ASU 2016-14)
This course will be an overview of: The history, deliberations, and overview leading up to FASB's issuance of ASU 2016-14. Shortcomings in financial statement presentation for not-for-profit entities that led to the changes. Net asset reporting classification changes for not-for-profit entities. Disclosure and reporting changes with respect to liquidity within not-for-profit financial statements. Expense presentation changes on not-for-profit financial statements. Next steps with respect to implementation of the guidance and Phase II of the project.