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Distance Learning
Distance Learning

OD: A Just-in-Time Webcast to Explain FASB’s NFP Reporting Proposal

Recorded on Thursday, June 25, 2015 1:00PM ET


With comments to the Financial Accounting Standards Board (FASB) due by August 20, take time to understand FASB’s proposed Accounting Standards Update, “Presentation of Financial Statements of Not-for-Profit Entities.” The far-reaching reporting proposal prescribes an operating measure that is based on resource availability and mission.  Governing board actions would also be considered in adjusting financial performance.

Other suggested reforms include: (1) presenting only two net asset classes; (2) changing underwater endowment reporting; (3) modifying how capital-related activities flow through the Statement of Activities; (4) moving to direct cash flow reporting; (5) displaying both natural and functional operating expenses; (6) classifying interest expense as non-operating: and (7) new disclosures related to net investment return, liquidity, underwater endowment funds, governing board designations, and the relationship between natural and functional expenses.  


After participating in this program you will be able to:

  • Understand tentative decisions in the proposed Accounting Standards Update.
  • Grasp the issues being debated by NACUBO’s Accounting Principles Council.
  • Provide input and pose questions regarding intended changes.
  • Determine how FASB’s exposure draft could impact your institution.
  • Share thoughts on the suggested reporting model.  


  • Jeff Mechanick, chairman, Not-for-Profit Advisory Committee, FASB
  • Gail Goodness, controller, Dartmouth College
  • Mary Wheeler, assistant vice president, finance, Stevens Institute of Technology
  • Karen Craig, consultant, NACUBO
  • Sue Menditto, director, accounting policy, NACUBO


  • Chief business officers
  • Chief finance officers
  • Controllers
  • Financial reporting managers
  • Accounting staff
  • Vice presidents of finance

Course Information

  • Length: 100 minutes


Member Site Registration: $0.00
Non-Member Site Registration: $219.00


Viewing a Program

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  • Log in to MY NACUBO
  • Click My Distance Learning Programs under the My Professional Development Section
  • Click the name of the webcast you wish to view
  • The webcast will open in a new window

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Technical Requirements

Software/Browser Requirements

  • Windows XP/Vista/7
  • Windows Media Player 10,11 or 12
  • Adobe Acrobat Reader 7.0 or later
  • Flash Player 10.x

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CPE Information

NACUBO is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: