Implementing the New FASB Rules: Functional Expenses

2018

Do you have a detailed plan to implement the new FASB not-for-profit financial reporting standards? During this two-part webinar series, industry experts walked through the conversion of a not-for-profit organization’s financial statements and notes to ensure an efficient and effective implementation of FASB ASU 2016-14. Learn how to overcome the most difficult challenges stemming from this new standard, through examples of various board-designation actions, walking through converting net asset classifications, tips on liquidity disclosures, and expense allocation methodologies that will help Community Action Agencies satisfy the new requirements. Part Two of this webinar series addressed functional expenses and other impacts.

Presented on: May 24, 2018
Presented by: Rachel Flanders, CPA, CliftonLarsonAllen LLP

Related Resources:

Build America, Buy America: How BABA Impacts CAA Programs

Build America, Buy America: How BABA Impacts CAA Programs

Federal grant recipients such as Community Action Agencies (CAAs) working on public infrastructure projects will now need to ensure the supplies and materials they purchase are primarily manufactured in the United States. The Build America, Buy America Act (BABA, or Buy America) was enacted…

Employee Retention Credit: What Your CAA Needs to Know

Employee Retention Credit: What Your CAA Needs to Know

The Employee Retention Credit (the “Credit”) was enacted on March 27, 2020, as part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, the first major COVID-19 pandemic relief package. The purpose of the Credit was to help employers…