Accounting Changes for Non-Profits
In August, the Financial Accounting Standards Board released new accounting standards for not-for-profit organizations (ASU 2016-14). The changes affect the reporting of net assets, the disclosures related to functional expenses, and (potentially) the statement of cash flows.
The DeVos Institute of Arts Management is offering a one-hour webinar on the new accounting standards, specifically for arts and culture organizations. As part of the webinar, you’ll learn:
- Details about the new standard, including its effective date.
- What you should be doing now to prepare for the new standards.
- Changes your may want to think about for your accounting systems.
- Questions you should be asking your accounting and auditing team.
This webinar is geared toward arts and culture organizations that issue financial statements under generally accepted accounting principles, but it is also applicable for smaller organizations that want to know about the changes.