You′ll find targeted discussion of emerging practice issues, plus current economic, accounting and auditing developments.
Key Benefits:
Among other topics, this Alert focuses on risks related to recent NFP trends, going concern, revenue recognition, and fair value issues. Also included is a discussion of recent and planned IRS activity with regard to NFPs.
This alert also includes information on emerging issues such as:

• Measuring the effectiveness of nonprofits
• Alternative investment considerations
• Going concern
• IRS exempt organizations activities
• FASB not–for–profit standard–setting activity
• UPMIFA policies

Updates

• FASB ASU No. 2014–09, Revenue from Contracts with Customers (Topic 606)
• FASB ASU No. 2014–15, Presentation of Financial Statements–Going Concern (Subtopic 205–40): Disclosure of Uncertainties about an Entity′s Ability to Continue as a Going Concern
• FASB ASU No. 2014–08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity
• FASB ASU No. 2015–03, Simplifying the Presentation of Debt Issuance Costs
• FASB ASU No. 2015–07, Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent)
• FASB ASU No. 2016–01, Financial Instruments Overall (Subtopic 825–10): Recognition and Measurement of Financial Assets and Financial Liabilities

Who Will Benefit:

• Audit and accounting firms with nonprofit engagements
• Financial managers at nonprofit organizations