
If you are in the non-profit or accounting space, you probably already know that the financial reporting requirements are about to change for non-profits. The question is, are you ready? When the Financial Accounting Standards Board (FASB) issued ASU 2016-14 they allowed about two years to prepare for the changes before requiring non-profits to adopt it. The time is upon us now to implement these changes so if you haven’t been paying attention, here is what you need to know.