Posts Categorized: Developing News

Big Changes Coming for Financial Reporting of Not-for-Profit Organizations: Part 9: Disclosures about Managing Liquidity and Availability of Financial Assets

Recap On August 18, 2016, the FASB issued Accounting Standards Update (ASU) No. 2016-14 “Not-for-Profit Entities (Topic 958): Presentation of Financial Statements of Not-for-Profit Entities.” ASU 2016-14 requires a number of changes to the financial statements of NFPs.  These changes will be effective for fiscal years beginning on or after December 15, 2017. This article […]

Pass-Through Entities Beware: There’s a New IRS Compliance Campaign in Town

S Corporation shareholders should be aware, the IRS Large Business and International division (LB&I) has announced a new IRS Compliance Campaign. The campaign focuses on various issues, including S Corporation Losses Claimed in Excess of Basis. It has come about as a response to the IRS’s concern that S Corporation shareholders are claiming losses and deductions […]

Big Changes Coming for Financial Reporting of Not-for-Profit Organizations – Part 8: Statement of Cash Flows

Recap On August 18, 2016, the FASB issued Accounting Standards Update (ASU) No. 2016-14 “Not-for-Profit Entities (Topic 958): Presentation of Financial Statements of Not-for-Profit Entities.” ASU 2016-14 requires a number of changes to the financial statements of NFPs. These changes will be effective for fiscal years beginning on or after December 15, 2017. This article […]

7 Key Insights from the 2017 National Manufacturing Outlook and Insights Survey

Recently, the Leading Edge Global Alliance (LEA) released its 2017 National Manufacturing Outlook and Insights Survey.  LEA, of which Clark Nuber is a founding member, is the second largest international association of CPA Firms in the world, creating a high-quality alliance of 220 firms focused on accounting, financial and business advisory services. To underscore the […]

Big Changes Coming for Financial Reporting of Not-for-Profit Organizations – Part 7: Reporting on Investment Return

Recap On August 18, 2016, the FASB issued Accounting Standards Update (ASU) No. 2016-14 “Not-for-Profit Entities (Topic 958): Presentation of Financial Statements of Not-for-Profit Entities.” ASU 2016-14 requires a number of changes to the financial statements of NFPs. These changes will be effective for fiscal years beginning on or after December 15, 2017. This article […]

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