Implementation Guide
ASU 2016-14 Presentation of Financial Statements for Not-for-Profit Entities

After years of debating and waiting, it is time for not-for-profit organizations to begin implementing the Financial Accounting Standards Board’s (FASB) Accounting Standards Update (ASU) 2016-14, Presentation of Financial Statements for Not-For-Profit Entities.

What’s in the Guide

We know there are a number of issues in this standard for you to consider, and implementation may not be quick and easy. We are here to guide you through this process. This guide is the first step in simplifying the new standard for your organization.

Throughout this guide, we provide a comprehensive look at the standard, organized by key sections. These sections include:

  • relevant definitions,
  • a comparison of current requirements compared to new requirements,
  • context for the reasoning behind the changes,
  • examples of implementation,
  • and action items to consider for management and your governing boards.

Not all of these changes will apply to your organization, but some sections will apply to every organization. We encourage you to begin transition steps now to prepare your organization for these important changes. This guide is a tool that can be copied and shared throughout your organization as you develop an implementation plan and work to update your financial statements.

Implementation Guide Cover
Political Activity and NFPs

Political Activity and Not-For-Profit Organizations

With the current political climate and upcoming elections, your not-for-profit organization may be considering how you can get involved. The most important thing your organization can do is to make sure you understand the rules and regulations before you participate in any type of political activity. This begins with understanding the distinction between political campaign […]

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09.11.20 Payroll Tax Deferral

Payroll Tax Deferral

The most significant tax-related executive action is the “Memorandum on Deferring Payroll Tax Obligations in Light of the Ongoing COVID-19 Disaster.” Taxpayer be wary, this order does not revoke your obligation to pay payroll taxes; it merely postpones the taxes to be due at a later date. The tax deferral period is from September 1, […]

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2020 Best Places to Work Kentucky

Blue & Co., LLC Named as One of the 2020 Best Places to Work in Kentucky

For the ninth consecutive year, competing as a medium-sized business, Blue & Co., LLC was named as one of the Best Places to Work in Kentucky. “We are thrilled to have been named as one of the 2020 Best Places to Work in Kentucky!”, stated Dale Skaggs, Director in Charge, for Blue & Co.’s Louisville […]

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