There is a plan to update, not overhaul, the current model.
It’s been a few years in the making where the financial account standards board, who sets the rules for nonpublic organizations from an accounting presentation perspective, has put together a project with a tremendous amount of grass roots efforts to determine what is and what is not working well within financial reporting. Watch this video for details on effective dates and transition of the project goals, and what changes are intended to address.
Marie C. Caputo, CPA, CGMA, CGFM
- Principal in CliftonLarsonAllen’s Greenbelt, Maryland office
- CliftonLarsonAllen is a national accounting firm with more than 120 offices across the country
- Leader in the firm’s nonprofit practice, which includes more than 7,000 nonprofit clients
- More than 29 years of experience
- Conducts regular presentations and writes articles on topics relevant to the nonprofit industry
- Co-chair of the not-for-profit committee of the Maryland Association of CPAs
- FASB Resource Group member
- Member of relevant professional organizations such as the American Institute of CPAs, American Society of Association Executives and Humentum
- Recognized as a SmartCPA by the Washington SmartCEO magazine
- B.S. degree in accounting, University of Maryland, College Park
- Can be contacted at 301-902-8518 or [email protected]
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