Newsbits – FASB proposes accounting change for nonprofits

Description

Abstract: This issue’s “Newsbits” discusses the Financial Accounting Standards Board’s proposed Accounting Standards Update No. 2015-230, which would significantly change a 20-year-old financial reporting model. The changes are intended to simplify the current net asset classification requirements and the presentation of information in nonprofits’ financial statements and footnotes about liquidity, financial performance and cash flows. Another item reports on how spam filters could cost an organization thousands of dollars a year in lost donations.