Is your nonprofit ready for FASB? Making the most of the storytelling potential of financials
from Nonprofit Quarterly
Many nonprofits are just now becoming aware—or just now remembering—that the Financial Accounting Standards Bureau (FASB) issued new standards for nonprofit financial statements back in 2016 that apply to audited financial statements for fiscal years beginning after December 15, 2017. While the new FASB standards officially apply only to the presentation of nonprofit audits, knowing FASB well enough to be innovative in financial reporting is worth a bit of study by all nonprofits.
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