Should Your Church Change Its Fiscal Year-End?
If your church uses a calendar year-end of December 31 as its fiscal year-end, you may want to consider whether you would benefit from changing it.
We continue to see more churches moving away […]
ASU 2016-14 and Churches: Four Key Questions Church Financial Leaders Should Ask to Understand the New Liquidity Disclosures
Recent nonprofit financial reporting standards updates will result in several changes to external financial statements that church financial leaders should understand.
Financial Accounting Standards Board (FASB) Accounting Standards Update (ASU) 2016-14 is intended to improve information […]
Qualitative Liquidity and Availability Disclosure Considerations for Churches in ASU 2016-14, Part 2 of 2
Among the many nonprofit financial reporting standards changes in Financial Accounting Standards Board (FASB) Accounting Standards Update (ASU) 2016-14, one of particular importance to churches is the new liquidity and availability disclosure. The ASU is […]
Liquidity and Availability Disclosure Considerations for Churches in ASU 2016-14, Part 1 of 2
All churches that issue external financial statements (complete with footnote disclosures) for fiscal years beginning after December 15, 2017 (calendar year 2018 and fiscal years ending in 2019) are subject to the new nonprofit financial […]