Is your not-for-profit ready to implement FASB’s Leases? | NFP Section webcast archive

FASB Topic 842, Leases, is bringing significant changes to the way leases are presented on a lessee’s statement of financial position. The objective of the new standards is to increase transparency and comparability. Although FASB delayed the effective date via Accounting Standards Update (ASU) No. 2020-05, Revenue from Contracts with Customers (Topic 606) and Leases (Topic 842) Effective Dates for Certain Entities, until fiscal years beginning after December 15, 2021, it is critical for NFPs to understand what’s