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Comment: Presentation of financial statements for not-for-profit entities

We acknowledge the challenges in writing financial reporting guidance for NFPs that by their nature generally are more dedicated to their missions and desired outcomes (for example, social or other initiatives) than to re-engineering their financial reporting. NFP financial reporting nonetheless is critical to enable those entities to pursue their missions and outcomes. Our general support for the proposal recognizes, however, that devising one model, a model with flexibility for widely diverse entities, will lead to disagreement related to certain aspects.

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