News for Nonprofits – FASB proposes major financial reporting changes

Description

Abstract: This issue’s “News for Nonprofits” reports on: 1) The Financial Accounting Standards Board’s new proposed Accounting Standards Update No. 2015-230 — Not-for-Profit Entities (Topic 958) and Health Care Entities (Topic 954): Presentation of Financial Statements of Not-for-Profit Entities — that, if passed, will greatly alter the way nonprofits prepare their financial statements, and 2) findings of a recent national survey that asked nonprofit leaders which revenue sources their organizations relied on most.