We’re pleased to make available the third and final segment of the three-part white paper series on FASB ASU 2016-14:
This 8-page document is a project plan to help you and your organization focus on task oriented items detailed in all three phases: understanding, preparing, and implementing.
Haven’t accessed Part 1 or Part 2? No problem! Use the links below.
Part 1 – Understanding. Preparing. Implementing. FASB ASU 2016-14 Reporting Requirements White Paper
Part 2 – Understanding. Preparing. Implementing. FASB ASU 2016-14 Reporting Requirements White Paper
Financial Technologies Management works exclusively with nonprofits – providing affordable accounting services, software, and technology.
With the Financial Accounting Standards Board (FASB) issuing a new accounting standards update specifically for nonprofits (ASU 2016-14) to improve the current net asset classification requirements and the information presented in financial statements and notes about a nonprofit entity’s liquidity, financial performance, and cash flows, this is considered a big change.
In fact, this is the first major set of changes to nonprofit financial statement presentation standards since 1993.
Part 3 in our 3-Part White Paper Series on Understanding. Preparing. Implementing. FASB ASU 2016-14 Reporting Requirements for Not-For-Profit Organizations is an active project plan to help you and your organization focus on task-oriented items detailed in all 3 phases; understanding, preparing and implementing.
Feel free to edit and alter this to make it work for your unique nonprofit environment. Not every task will apply to your nonprofit, and there will probably be tasks you will need to add. Part 3 is meant to help guide you and your team as you embark on satisfying the new FASB ASU 2016-14 reporting requirements.
If you don’t want to go it alone – the team at FTM is here to help. We’ve been serving nonprofits exclusively since 1999. We work with nonprofit to select and implement leading nonprofit accounting solutions.
We also provide accounting services, including outsourced accounting, for organizations that understand that professional attention to the organization’s financial accounting is a prerequisite for proper stewardship.