GOV2406. FASB Update

The FASB's lead staff person for NFPs will guide you through recent changes to GAAP affecting the NFP sector and noteworthy projects on the FASB's current agenda. Our discussion will include implementation matters on the new Credit Losses standard (Topic 326); recent guidance (ASUs) on common control leases, crypto assets, and income tax disclosures; and current projects on software development costs and environmental credit programs. We'll also highlight recent discussions of the FASB's NFP Advisory Committee (NAC) and preview the FASB's upcoming agenda consultation.

Learning Objectives:

• Identify the key recent changes to GAAP affecting the NFP sector.
• Identify the current FASB projects that could affect the NFP sector.