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Net Asset Presentation on Not-for-Profit Entity Financial Statements

By Ugochi Oguh, CPA Updated 7/29/2019 Prior to the adoption of ASU 2016-14, Presentation of Financial Statements of Not-for-Profit Entities, not-for-profit entities (NFPs) were required to segregate net asset disclosures between temporarily restricted, permanently restricted and unrestricted.  To reduce confusion and enhance transparency, ASU 2016-14 reduces the number of classes of net assets from the above three to two – net assets without donor restrictions and net assets with...

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