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Tag Archives: classification
Coming Soon! Change to Not-for-Profit Expense Reporting (Part 2)
As discussed in Part 1 of this blog series, one of the new requirements under Accounting Standards Update 2016-14, Presentation of Financial Statements of Not-for-Profit Entities, is enhanced disclosures over the methods used to allocate costs among program and support functions.Allocation … read more
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Tagged Arizona, classification, expenses, FASB, financial statements, functional expenses, nonprofit, NPO, support services
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Coming Soon! Changes to Not-for-Profit Expense Reporting (Part 1)
For the first time in 20 years, FASB has made some major updates to the not-for-profit financial reporting and disclosure model. Accounting Standards Update (ASU) No. 2016-14, Not-for-Profit Entities (Topic 958): Presentation of Financial Statements of Not-for-Profit Entities was created to improve … read more
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Tagged Arizona, classification, expenses, FASB, financial statements, nonprofit, NPO
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GASB Statement No. 54 – A Refresher
The Governmental Accounting Standards Board (“GASB”) approved Statement 54 in February 2009 and made it effective for the fiscal year ending June 30, 2011. Implementation back in FY 10-11 required a deep analysis of an entities’ activity. In some cases, … read more
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Tagged accounting, adjustment, Arizona, capital project, classification, CPA, financial report, GASB 54, government, school district, special revenue
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