The Financial Accounting Standards Board (FASB) recently issued a proposed Accounting Standards Update (ASU) intended to update and improve existing standards for not-for-profit organizations financial statements. The goal is to provide better information to donors, creditors, and other users.
The ASU sets forth the FASB’s proposed improvements to current net asset classification requirements and information presented ... Read More ›
On 4/22/15, the Financial Accounting Standards Board (FASB) issued a proposed Accounting Standards Update (ASU) intended to improve the information provided in not-for-profit financial statements and notes to financial statements. Stakeholders are encouraged to review and comment on the proposed ASU, Presentation of Financial Statements of Not-for-Profit Entities, by August 20, 2015. It’s posted at Read More ›
The Urban Institute has experienced a breach in security. While Legacy Professionals LLP does not utilize this program, we understand several of our clients do when filing tax forms, such as the 990-N. Fortunately, these tax forms do not contain sensitive information, such as social security numbers or credit card information, and the Director for ... Read More ›