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FASB Adds Two Agenda Projects to Improve Financial Reporting by Not-for-Profit Orgs

The Financial Accounting Standards Board (FASB) will be looking at Not for Profit Accounting rules. Specifically focusing on.......the financial statements and related notes that are unique to not-for-profit organizations. It will reexamine existing standards for financial statement presentation by not-for-profit organizations with a focus on improving the current net asset classification scheme and information provided in financial statements and notes about an organization’s liquidity, financial performance, and cash flows.  Click here to read FASB press release