Nonprofit FASB Reporting Requirements Update is brought to you by Lorman
Gain an understanding of these changes as well as implementation tips.
Major changes are in store for nonprofit organizations that will impact nearly every nonprofit organization’s financial statements. Learn how these changes will impact net asset classification, reporting of financial performance measures, reporting of expenses by function and nature, presentation of cash flow information, recognition of revenue, and accounting for leases. We will dive into specific revenue recognition areas most relevant to nonprofits including contributions, bifurcation, membership dues, tuition and fees, licenses and royalties, and governmental grants and contracts.