Endowment accounting and reporting best practices and pitfalls
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Endowment accounting and reporting best practices and pitfalls

2 years ago · 4 min read

SECTION

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FASB Accounting Standards Update (ASU) 2016-14, Presentation of Financial Statements of Not-for-Profit Entities, will affect how not-for-profit entities (NFPs) report their endowment activities in their financial statements. Accordingly, NFPs may want to revisit endowment policies and strategies, as well as explore opportunities for efficiency and transparency in connection with their implementation of the new standard.

Despite streamlined presentation requirements, endowment assets still require separate tracking.

While ASU 2016-14 combines the former “temporarily restricted” and “permanently restricted” net asset classifications

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