FASB Approves Issuance of Exposure Draft for Not-for-Profit Financial Statement Project

The Financial Accounting Standards Board (FASB) has approved the issuance of an exposure draft for financial statements of not-for-profits.

The objective of the FASB’s NFP Financial Statement project is to look at existing standards for financial statement presentation by not-for-profit entities. The FASB specifically considered how to improve net asset classification requirements, as well as enhance information provided in the financial statements and notes about liquidity, financial performance, and cash flows.

The FASB decided against proposing a specific effective date and will instead ask respondents to provide information to help them determine an appropriate date (or dates) during redeliberation.

To review the most recent tentative decisions, visit the project page on the FASB Web site. The exposure draft is expected to be issued by mid-April with a comment period ending July 31, 2015.


We can help you determine the impact of the proposed guidance on your organization and guide you through any changes. For more information, contact your Moss Adams professional.

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