AAFCPAs Clarifies FASB Nonprofit ASU for Boston Bar Association Members
AAFCPAs’ Amanda Pelcher, CPA will provide insight to Boston attorneys on Understanding the New Nonprofit Financial Statement Presentation Standards.
In August 2016, the FASB implemented an accounting standards update (ASU 2016-14) to refresh the previous reporting model. Amanda will discuss both the current standards for nonprofit financial statement presentation and the main provisions of this ASU, which will include net asset classification (collapsing three asset classifications into two), reporting expenses by natural function and category, the place-in-service approach for property and equipment purchases, and underwater endowment reporting. These changes will affect not only nonprofits’ presentation of financial statements, but will also be essential to their attorneys’ understanding of the organization’s financial picture, including classification of restricted funds.
This tax exempt organizations section program, scheduled for Jan 31st, is part of the Boston Bar Association’s Continuing Legal Education (CLE) Programs.
Tuesday, January 31st, 2017
12:30pm – 1:30pm
Boston Bar Association
16 Beacon Street
Amanda presented an educational webinar on this topic in December 2016 to AAFCPAs clients and friends. (Click here to access an OnDemand recording of this webinar.)