Changes to Financial Statement Disclosures

A significant part of the new FASB guidance is additional and revised disclosures to be made as part of financial statements. These changes are mostly centered around how liquid your organization’s assets are and how easily you’ll be able to meet cash needs for...

Changes to Financial Statements – Statement of Cash Flows

As part of the upcoming changes to FASB guidance, the statement of cash flows will look a little different. Going forward, nonprofits can still choose to present it using either the direct or indirect method for cash flows provided (used) by operating activities. If...

Changes to Reporting Underwater Endowments

In the upcoming new FASB rules, one change will be how underwater endowments are reported. Underwater endowments are those in which the fair value of a donor-restricted fund falls below the amount an organization is required to maintain by the donor or by law....