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Requires qualitative disclosures on how a not-for-profit manages its available liquid resources. Requires quantitative disclosures that communicate the availability of financial assets to meet cash needs for general expenditures within one year of the balance sheet date.
accounting standards update 2020-07—not-for-profit entities (topic 958): presentation and disclosures by not-for-profit entities for contributed nonfinancial assets
Enhanced disclosure in notes to financial statements will provide useful information about the nature, amounts, and effects of the various types of donor-imposed restrictions, which often include limits on the purposes for which the resources can be used as well as the time frame for their use.
18 wrz 2020 · Subtopic 958-605, Not-for-Profit Entities—Revenue Recognition, specifies requirements for the recognition and initial measurement of contributions and disclosure requirements for contributed services.
FASB Accounting Standards Codification (ASC) 958-205, Not-for-Profit Entities— Presentation of Financial Statements, requires not-for-profits (NFPs) to present contributed nonfinancial assets as a separate line item in the statement activities and provide additional disclosures about contributions of nonfinancial assets. Contributed ...
Subtopic 958-605, Not-for-Profit Entities—Revenue Recognition, specifies requirements for the recognition and initial measurement of contributions and disclosure requirements for contributed services.
Not-for-Profit Entities (Topic 958) Clarifying the Scope and the Accounting Guidance for Contributions Received and Contributions Made. An Amendment of the FASB Accounting Standards Codification®.
