NFP Notes to Financial Statements

Free CPA FAR (Financial Accounting & Reporting) lesson in Financial Reporting. 17 min read, ~2,606 words.

ASU 2016-14 requires note disclosure of net asset composition, donor restrictions, board designations, and quantitative plus qualitative liquidity. Net assets with donor restrictions must be disaggregated by type (purpose, time, perpetual); a single-line total is a GAAP departure. Functional expense allocation methodology must be disclosed when the matrix appears in...

What this lesson covers

• Content
• Example 1
• Example 2
• Common Mistakes
• Check Your Understanding
• Exam Shortcuts

Learning objectives

• I.B4

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