FASB Not-for-Profit Advisory Committee Holds September Meeting

The FASB’s Not-for-Profit Advisory Committee recently held its semiannual meeting. Topics discussed at the meeting included:

• Implementation of the FASB’s standards on leases (ASC 842) and credit losses (ASC 326).
• Updates on the Board’s projects related to (1) accounting for and disclosure of software costs, (2) accounting for environmental credit programs, (3) accounting for and disclosure of crypto assets, and (4) disclosure enhancements made as a result of the SEC’s release on updating and simplifying disclosures.
• “[R]ecent trends, concerns, and observations in the NFP sector, including the range of business pressures that NFPs are facing and the associated consequences of those pressures on an NFP’s operations and financial reporting.”

For more information, see the meeting recap on the FASB’s Web site.