The new accounting and auditing guidance covers the following topics:
- Prior updates effective in the current year
- Goodwill impairment
- Consolidation guidance for NFPs
- Definition of a business
- Going concern
- Pension costs
- Uniform guidance (Financial discussion paper on UG available here.)
- Revenue recognition of grants and contracts
- Land easements
- Proposed auditors’ report changes
- Not-for-Profit Advisory Committee highlights
Read the paper here and watch the webinar here.
