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Comments on proposed ASU: Presentation of financial statements of not-for-profit entities
Publication date: 20 Aug 2015
us PwC comment letter
PwC comments on FASB's proposed changes to NFP financial reporting
August 20, 2015
August 20, 2015
PwC submitted comments on the FASB’s proposed Accounting Standards Update (ASU), Not-for-Profit Entities (Topic 958) and Health Care Entities (Topic 954): Presentation of Financial Statements of Not-for-Profit Entities. We support the board’s commitment to make not-for-profit entity (NFP) financial statements more meaningful and relevant to those seeking to understand NFPs’ operations, liquidity, and use of resources. We support the board’s proposals to make certain targeted changes to NFP-specific reporting now, but believe deliberation of broader issues related to making the distinction between operating and nonoperating activities and the related cash flow implications should be deferred until they can be considered in the context of all types of entities reporting under private sector U.S. GAAP.
See our comment letter for our specific comments, observations and recommendations on the FASB’s proposed ASU.
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Comments on Proposed ASU: Presentation of Financial Statements of Not-for-Profit Entities (PDF 165kb)
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