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Proposed Nonprofit Financial Statement Format Changes

Proposed Nonprofit Financial Statement Format Changes

On April 22, 2015, the FASB issued a proposed Accounting Standards Update (ASU) entitled Not-for-Profit Entities (Topic 958) and Health Care Entities (Topic 954): Presentation of Financial Statements of Not-for-Profit Entities.  The proposed ASU is intended to improve the financial reporting of not-for-profit entities (NFPs) and to provide more useful information to the donors, creditors, […]

UFR Reporting Guidance for Child Care Contractors With EEC Infant/Toddler Contracts

UFR Reporting Guidance for Child Care Contractors With EEC Infant/Toddler Contracts

As a reminder, effective July 1, 2014, the Massachusetts Department of Early Education and Care (EEC) unblended the Infant/Toddler contract rates.  In recent guidance issued by the EEC, the previously combined programs must now be reported separately on the Uniform Financial Report (UFR).  For example, child care contractors who receive EEC funding and have a […]