FASB is starting to write a major overhaul of NPO accounting

One discussion inside the accounting rule maker deals with a massive restructure of the accounting for nonprofit organizations. The FASB staff have started drafting the changes.

Exposure draft might be released in early 2015. Adjust the estimate by a few months to allow for the complexity of a rewrite that affects such a wide variety of organizations and I’ll guess we may see an exposure draft in spring or summer 2015.

Thomson Reuters Tax & Accounting News reports Not-for-Profit Proposal Targeted for 2015 Release.

If you are involved in the finance or accounting areas of the NPO world, it might be worth keeping your eye out for this issue.

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