


Proposal for International Non-Profit Accounting Guidance
Taking a big first step towards a global nonprofit accounting framework, IFR4NPO has issued the first of 3 expected exposure drafts for public comment. The exposure draft addresses scope and basic framing for the development of a new global framework for nonprofit organizations. Comments are due March 31.

Presentation & Disclosures by Not for Profit Entities for Contributed Nonfinancial Assets
FASB has issued a proposed ASU titled Presentation and Disclosures by Not-for-Profit Entities for Contributed Nonfinancial Assets. Gifts in kind have received a lot of attention for pharmaceutical donations but the proposal addresses all contributions on nonfinancial assets. The proposal includes unique presentation for these contributions as well as additional disclosures. Comments are due by April 10th.

New Data Collection Form
Office of Management and Budget has issued the new Data Collection Form for use in years 2019 through 2021. There are a quite a few changes auditors (and auditees) should be aware of including customizable SEFAs, an auditee EIN edit check, as well as more text...