FASB Not-For-Profit Update
Late last week, the Financial Accounting Standards Board (FASB) released Accounting
Standards Update (ASU) 2016-14, Presentation of Financial Statements for Not-for-
Profit Entities. This release is the first significant change to financial statements of not-
for-profits in 20 years and is the first of two standards changes stemming from the
FASB exposure draft released in Spring 2015.