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Webinar: Preparing for the One BIG FASB Change in Nonprofit Financial Reporting per FASB
June 28, 2017 @ 2:00 pm - 3:00 pm
Wednesday, June 28 2:00pm – 3:00pm EST
For the first time since 1993, the financial reporting standards for nonprofit organizations are being updated with the goal of improving the communication of financial results to donors and other outside stakeholders.
The key questions for all of us are:
- Practically speaking, what do these changes mean for your nonprofit?
- And as the implementation deadline approaches, are your leadership and board ready?
In this webinar, FMA’s Hilda Polanco will discuss key changes in reporting requirements. Of particular importance, the guidance requires enhanced disclosure of the board’s policies to manage the organization’s ability to pay its bills even during periods of difficult cash flow. But before you can disclose your policies—you first need to have them!
This one point regarding liquidity planning will need a good deal of preparation on your part. Hilda will explore the importance of defining a framework for managing liquidity, including establishing reserves, securing a credit line, accessing endowment earnings, and other strategies to make sure that in times of tight cash flow your nonprofit can pay its bills without interruption to service delivery—and have the clarity necessary to share that framework externally, as part of the ongoing financial story told by your audited financial statements.
Especially relevant for Executive Directors, CFOs, and Board Members, this webinar will help jumpstart some critical conversations at your organization in advance of the impending reporting changes.
Join NPQ for a live LinkedIn discussion following the webinar!
Nonprofit Financial Reporting – A Down and Dirty Q&A
You can send your questions to firstname.lastname@example.org to have them answered during the web event