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Financial Statements for Nonprofit Entities FASB Proposed Guidance, Exposure Draft on Net Asset Classifications

Jul 7, 2016 | Audit, Nonprofit

by Johnson Olatunji, Audit Manager – McConnell & Jones LLP In April 2015, the Financial Accounting Standards Board (FASB) issued a Proposed Accounting Standards Update titled Presentation of Financial Statements of Not-for-Profit (NFP) Entitles (the Exposure...

GASB 72 – Fair Value Measurement and Application

Apr 14, 2016 | Audit, Government Audit Standards

by Minnie Cariaga, Audit Manager GASB 72 – Fair Value Measurement and Application Last year, GASB issued Statement No. 72, Fair Value Measurement and Application.  Is your agency ready?  This key GASB provision amends the definition of fair value to be...

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