FASB Considers More Changes

(from the Journal of Accountancy) Even as nonprofits implement new FASB standards for revenue recognition and financial reporting, the accounting standard-setting organization is considering four potential issues for future standards:

• Intangible assets, including research and development.
• Pensions and other post-retirement benefit plans.
• Distinguishing equity from liabilities.
• Reporting performance and cash flows, including income statement, segment reporting, other comprehensive income and statement of cash flows.

FASB will evaluate which of those projects to add to its standard-setting agenda after July, when new board members join the organization. None are likely to result in a standard anytime soon.

Read the full article at the Journal of Accountancy.

More on NetAssets.org about the new FASB standards.

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