Expert guidance on how to read, interpret, and use nonprofit financial statements—updated to include the new FASB standard for nonprofit financial reporting. Whether you’re a nonprofit executive unfamiliar with the language of financial statements or a seasoned pro, this book is the only guide you’ll need to correctly interpret those critical documents, refresh your skills, and familiarize yourself with the new FASB nonprofit reporting standards.

The intent behind the recent FASB accounting standards update was to improve the clarity and usefulness of nonprofit financial statements. But making sense of those statements can still be tough for the uninitiated. Accountants and non-accountants who use and prepare nonprofit financial statements need guidance on how to interpret and implement these new FASB standards. Written for both audiences, this book:

• Clearly defines accounting terminology and concepts, while offering numerous examples of financial statements reflecting both the old and new FASB standards
• Steers you, line-by-line, through financial reports, providing in-depth explanations of the differences between the old and new standards

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