By: Vern Hoven

FASB Issues New Guidance for Not-for-Profit Entities

On August 18, 2016 FASB issued Update 2016-14, Presentation of Financial Statements of Not-for-Profit Entities. This represents the culmination of the first phase of FASB’s project on Not-for-Profit Entities and represents the first major revision since the issuance of FASB 116 and 117 in 1993.

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