FASB Exposure Draft is out!

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As expected, the Financial Accounting Standards Board (FASB) issued an Exposure Draft on April 22, 2015 on a proposed Accounting Standards Update on the "Presentation of Financial Statements of Not-for-Profit Entities." 

The FASB’s Not-for-Profit Advisory Committee indicated the reason for the proposed update is that existing standards for financial statements of not-for-profit entities are sound but could be improved to provide better information to donors, creditors, and other users of financial statements.

Public comment on the proposal is now open with a deadline of August 20, 2015. 

To better understand the issue, how it may impact your organization and to comment, please read the Exposure Draft here.​

SKR+CO Expert
Steve Hochstetter, CPA/ABV®, CFF™, CVA, Audit Partner
Steve has been in public accounting since 1983, with significant experience serving nonprofit organizations, healthcare organizations, governmental entities, and small to mid-size businesses.