The Soapbox and Toolbox for New York State's Nonprofits

August 23, 2016

Financial Accounting Standards Board Issues Critical Nonprofit Update

FASB ISSUES NEW GUIDANCE ON NOT-FOR-PROFIT FINANCIAL REPORTING

The Financial Accounting Standards Board (FASB) today issued an Accounting Standards Update (ASU) that simplifies and improves how a not-for-profit organization classifies its net assets, as well as the information it presents in financial statements and notes about its liquidity, financial performance, and cash flows.


READ MORE from FASB website.

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NYCON develops and promotes an effective and vibrant charitable nonprofit community throughout New York State.  We strengthen organizational capacity, act as an advocate and unifying voice, help to inform philanthropic giving, and conduct research and planning to demonstrate relevance and impact.