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,, 315.701.6346

Michael G. Lisson, CPA, Partner, Audit Services Group,, 315.701.6430

Christina R. Ondrako, CPA, Partner, Audit Services Group,, 315.701.6342

Grossman St. Amour CPAs PLLC is an independent member of PrimeGlobal, An Association of Independent Accounting Firms and one of the largest in the world. The association is comprised of over 300 highly successful independent public accounting firms in 90 countries.

PrimeGlobal provides its independent member firms with tools and resources to help them furnish superior accounting, auditing, tax and management services to clients around the globe. Through PrimeGlobal, independent member firms offer the strength and capabilities of a large, worldwide organization with technical depth and geographic reach impossible for a local firm alone.