Proposed Changes to Nonprofit Financial Reporting

| Business Miscellaneous

By Chris Mennel     UPDATE 11/10/16: The final version of the nonprofit financial reporting standard was issued in August 2016. Click here for a summary of the final standard and the implementation dates. A new proposed accounting standard could dramatically impact the current financial reporting methods for the more than 1.5 million nonprofits in the United States.  Financial reporting in nonprofits was largely affected in 1993 by the issuance of Financial Accounting Standard No. 116 Read more [...]