Presentation of not-for-profit financial statements | KPMG | US

FASB changes presentation of not-for-profit financial statements

Presentation of not-for-profit financial statements

A new FASB update changes how not-for-profit entities—including health care entities—are to report net asset classes, expenses, and liquidity in their financial statements. The FASB deferred to “Phase 2” of its project on not-for-profit financial statements, the decision about requiring a measure of operations in the statement of activities.


Related content

Read an August 2016 report prepared by KPMG LLP: Defining Issues: FASB Changes Presentation of Not-for-Profit Financial Statements

© 2018 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.

The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.

Connect with us


Request for proposal