WVNPA Webinar: New FASB Rules – An Overview of Changes to Preparing Nonprofit Financial Statements

FASB (Financial Accounting Standards Board) recently released ASU 2016-14, Presentation of Financial Statements of Not-for-Profit Entities, with the goal of improving not-for-profit entity financial statements to provide more useful information to donors, grantors, creditors and other financial statement users. The ASU significantly changes how not-for-profits present net assets on the face of the financial statements, as well as requires additional disclosures for expenses by nature and function and for the liquidity and availability of resources. Since this represents the first major change to not-for-profit financial statement preparation since the mid-1990’s, gaining an understanding of the new requirements is critical for not-for-profit operations. This webinar provides a high-level summary of ASU 2016-14 to assist your organization’s team in understanding these fundamental changes to accounting standards.

About the Presenter:

Jessica Heldman is a Senior Audit Manager at Perry & Associates CPA’s A.C. Heldman received her B.A. in Management and Political Science from Marietta College and her MBA from the University of Cincinnati. She is a licensed Certified Public Accountant.  She has worked in public accounting for over ten years where she specializes in governmental and not-for-profit auditing. Heldman is a member of the American Institute of Certified Public Accountants (AICPA), the Ohio Society of Certified Public Accountants (OSCPA) and is involved with several local not-for-profit organizations.  She has previously served as an adjunct faculty member at Washington State Community College.