FASB Not-for-Profit Advisory Committee Holds September 2021 Meeting

At its September 14, 2021, meeting, the FASB’s Not-for-Profit (NFP) Advisory Committee discussed (1) implementation of FASB Accounting Standards Codification Topic 606, Revenue From Contracts With Customers; (2) implementation of the amendments in FASB Accounting Standards Update No. 2018-08, Not-for-Profit Entities (Topic 958): Clarifying the Scope and the Accounting Guidance for Contributions Received and Contributions Made; (3) NFP reporting of gifts-in-kind; (4) current financial reporting issues related to COVID-19; (5) implementation of other standards; and (6) other projects in progress.