Presentation of Financial Statements of Not-for-Profit Entities

On April 22, 2015, the Financial Accounting Standards Board (FASB) issued a proposed Accounting Standards Update for Not-for-Profit Entities and Health Care Entities, “Presentation of Financial Statements of Not-for-Profit Entities.” The proposal includes changes to net asset classification, information presented about liquidity, financial performance, and cash flows. Comments on the proposal can be made through FASB’s website and are due by August 20, 2015.