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Summary of Recent Accounting Changes

Within the last few years the Financial Accounting Standards Board (FASB), the rrulemaking body that approves all changes to Generally Accepted Accounting Principles (GAAP), has issued several major accounting and reporting revisions that effect evry Not-For-Profit organization in the country. Some of these changes are the most significant Not-For-Profit changes issued since 1994.s

NFP Accounting Terms & Definitions

Below is a detailed list of important not for profit accounting terms: