FASB Issues New Guidance On Not-For-Profit Financial Reporting

The Financial Accounting Standards Board (FASB) issued ASU 2016-14 on August 18, 2016, which results in significant financial reporting changes for nonprofit entities.   Here is a link to the summary of the changes issued by the FASB. For more information contact:

Linda Gabor, CPA, CFE, PartnerAudit Services Group, lgabor@gsacpas.com, 315.701.6346

Michael G. Lisson, CPA, Partner, Audit Services Group, mlisson@gsacpas.com, 315.701.6430

Christina R. Ondrako, CPA, Partner, Audit Services Group, condrako@gsacpas.com, 315.701.6342

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