Not-for-profit financial assets: available…or not available?

Jul 09, 2019 · 2 min read

SECTION

EXCLUSIVE

One of the new disclosures that not-for-profit entities (NFPs) are paying close attention to as they adopt FASB Accounting Standards Update (ASU) No. 2016-14, Presentation of Financial Statements of Not-for-Profit Entities, is that related to the liquidity and availability of financial assets. The new requirement is for NFPs to disclose both qualitative and quantitative information about financial assets available to meet general expenditures within one year of the date of the statement of financial position.

However, the term general

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