New FASB ASU 2016-14 on Not-For-Profit Financial Reporting and Disclosures: Are You Ready?

Prepare Now to Revise Reporting Practices Regarding Net Asset Classification, Expense Reporting and Liquidity Disclosures

Recording of a 110-minute CPE webinar with Q&A

Conducted on Tuesday, March 7, 2017

Recorded event now available

or call 1-800-926-7926
Program Materials

This webinar will provide NFP auditors and professionals with not-for-profit (NFP) financial reporting responsibilities with a thorough and practical guide to the new FASB ASU 2016-14 reporting standard, applicable to almost all nonprofits, and to prepare to implement its significant changes to financial reporting and disclosures for NFPs.


The FASB’s Presentation of Financial Statements of Not-for-Profit Entities was released in August 2016. The standard is effective for annual financial statements issued for fiscal years beginning after Dec. 15, 2017, and for interim periods within fiscal years beginning after Dec. 15, 2018. The newly released updates will change the way NFPs classify net assets and prepare financial statements.

The changes in the standard are focused on clarity of information regarding liquidity and availability of financial assets and consistency in reporting expenses by function and nature. The standard also provides guidance on specific disclosures that must be made.

Due to the extent of changes to NFP financial reporting, executives to NFPs must act now with an implementation plan that includes training auditing staff, preparing other members of the organization who use financial reporting for making business decisions, and reexamining existing financial reporting policies and procedures for necessary updates.

Listen as our experienced panel provides a thorough briefing on the ASU 2016-14 changes to NFP financial reporting, including net asset classifications, underwater endowments, board-designated net assets, restrictions to long-lived assets, disclosure requirements and more. The panel will outline concrete guidance on implementing a transition plan to fully comply with the new requirements.



  1. NFP financial reporting key changes
  2. Net asset classification
  3. Liquidity and availability of cash
  4. Reporting financial performance measures
  5. Reporting expenses by function and nature
  6. Statement of cash flows
  7. Underwater endowments
  8. Next steps


The panel will review these and other key issues:

  • Net asset classifications
  • Underwater endowments
  • Board-designated net assets
  • Transparency and utility of liquidity information
  • Reporting financial performance measures


Altholz, Amy
Amy Altholz, CPA, CGMA

Rubin Brown

Ms. Altholz is the Vice Chair of the Firm's Not-For-Profit Services Group. Her focus is on assurance services and...  |  Read More

William P. Epstein
William P. Epstein


Mr. Epstein is a member of the Firm's Not-for-Profit Services Group and has spent almost two decades in public...  |  Read More

Thompson, Kelly
Kelly Thompson, CPA

The Bonadio Group

Ms. Thompson's experience includes financial statement audits, technical quality control reviews, single...  |  Read More

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