Welcome to Nonprofit Accounting Basics — a resource designed to help you produce accurate records and reports, encourage and measure accountability, and successfully manage and sustain your nonprofit organization. More About Us

Featured Articles

Kari Call, CPA
Apr 22, 2019

The Financial Accounting Standards Board (FASB) released Accounting Standards Update No. 2016-02Leases (ASC 842) on February 25, 2016, effectively eliminating off-balance sheet financing in the form of operating lease arrangements. ASC 842 requires all leases over one year in length to be reported on the balance sheet as both lease assets and lease liabilities as of the effective date of the standard.

Lila Leno
Apr 8, 2019

The FASB’s new guidance in ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement, impacts the fair value disclosures of both public and private companies.

ASU 2018-13 amends the disclosure requirements for recurring and nonrecurring fair value measurements by removing, modifying, and adding certain disclosures.
 
The following disclosure requirements were removed from Topic 820:

Subscribe to Front page feed