Defining Issues | August 2016
KPMG reports on changes to NFP disclosures in ASC 958. The FASB’s new ASU on NFP disclosures simplifies net asset classes but requires additional information on expenses and liquidity.
KPMG reports on changes to NFP disclosures in ASC 958. The FASB’s new ASU on NFP disclosures simplifies net asset classes but requires additional information on expenses and liquidity.
ASU 2016-14
Effective date | Not-for-Profit entities |
Annual periods – Fiscal years beginning after | Dec. 15, 2017 |
Interim periods – In fiscal years beginning after | Dec. 15, 2018 |
Early adoption allowed? | Immediately
|
FASB changes presentation of NFP financial statements
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