Implementation guidance on FASB’s new NFP standards
The new Financial Accounting Standards Board standards for nonprofits that were released in August represent the most significant changes in the not-for-profit reporting rules since 1993.
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FASB affirmed narrow-scope changes and practical expedients to its revenue recognition standard this week on issues including collectibility, contract modifications, and completed contracts at transition. – See more at: http://www.journalofaccountancy.com/news/2016/feb/fasb-affirms-revenue-recognition-changes-201613881.html#sthash.uQeKP0dA.dpuf
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The Financial Accounting Standards Board (FASB) has issued two proposed Accounting Standards Updates (ASUs) intended to improve financial reporting by employers related to defined benefit pension and other postretirement benefit plans.
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