Posts tagged with "White Paper"

Part 3 FASB ASU 2016-14 Reporting Requirements White Paper

Part 3 FASB ASU 2016-14 Reporting Requirements White Paper

We’re pleased to make available the third and final segment of the three-part white paper series on FASB ASU 2016-14:

Click here to access FASB ASU 2016-14 Reporting Requirements for Not-For-Profit Organizations White Paper Series Part 3 of 3.

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.

Follow Key Metrics to Mission Fulfillment

We’re pleased to offer a valuable, 7-page document on nonprofit outcome metrics.

Click here to access ‘Outcome Metrics: Measuring What Matters in the Nonprofit World’

The topics covered include:

  • The Age of Transparency and Accountability
  • What are Outcome Metrics?
  • Why Outcome Metrics Matter?
  • Who’s Monitoring Nonprofit Performance?
  • Linking Metrics to the Mission
  • The Best Path to Success: A Balanced Approach
  • Set Up Your Plan
  • The Right Financial Software System Matters
  • Conclusion: Making a Difference

Click here to get your complimentary copy

Outcome metrics deliver value only if they are tightly aligned to your core values and mission (otherwise, they are only a resource-draining distraction). So it’s best to start with a simple template that defines what matters – your organization’s short- and long-term objectives – and the impact measures that effectively map to them.

Set goals and strategies that help to ensure your activity measures support the overarching mission. These might include progress toward goals, and program implementation; e.g. projects launched and sites protected.

Finally, drill down to define the supporting tactics and activities. These might be measures of memberships, funding, or growth in fundraising.

However you establish and define your outcome metrics, keep it simple – and never lose focus of what truly matters to your organization.