The new standard will significantly change how all not-for-profits—including health care entities—report net asset classes, expenses, investment return, and liquidity in their financial statements. The FASB intends that the changes will reduce reporting complexity and provide financial statement users with greater transparency about how a not-for-profit uses its resources and manages its cash needs.
Read an October 2016 report prepared by KPMG LLP: Issues In-Depth: Not-for-Profit: Presentation of financial statements
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