Legacy hosted a Seminar & Roundtable on November 7 at the Westbrook Corporate Center Conference Center in Westchester.
Legacy Partners Rose Doherty and Paul Doetsch presented updated information for nonprofits to better understand Accounting Standards Update (ASU) 2016-14, Presentation of Financial Statements of Not-For-Profit (NFP) Entities. This ASU substantially revises the financial statements for the first time since the mid-1990s. Rose and Paul discussed what changes should be in place at this time and how to make sure your organization is ready by your next audit. This ASU is effective for fiscal years ending with December 31, 2018 or later. Following the presentation, Rose and Paul led a spirited and productive roundtable discussion.