In response to ongoing concerns and confusion surrounding the current not-for-profit reporting model, the FASB reimagined the design of financial statements and related disclosures. In April 2015, the FASB issued an exposure draft of an Accounting Standards Update that would change the presentation of these statements for not-for-profit entities, including health care entities.
Our explanations and perspectives are provided in our report, Will the FASB’s changes to the nonprofit financial reporting model better help you tell your financial story? We offer them to help your organization better understand the proposed Standard, which we believe will ultimately become the prevailing standard to which all nonprofits must align their reporting.
We hope our commentary will help you determine the impact these proposals would have on how financial performance is reported by your organization.
Download the PDF to read our report.
For updates on current FASB, AICPA and NAC projects and hot topics — including the FASB Not-for-Profit Financial Reporting project, Leases, and Revenue Recognition, as well as the new Uniform Guidance updates — register for our webcast, Not-for-profit accounting and regulatory update. Listen to the replay and download the presentation.