New FASB ASU 2016-14 Resources Available to Assist Nonprofit Organizations

NEEDHAM, Mass., May 25, 2018 /PRNewswire/ -- AccuFund, Inc., provider of financial reporting and accounting software for nonprofit, municipal and government organizations, today announced a compilation of valuable resources available to nonprofits as they actively prepare to satisfy new FASB ASU 2016-14 reporting requirements.

Since the Financial Accounting Standards Board (FASB) issued new accounting standards updates specifically for nonprofits (ASU 2016-14) to improve the current net asset classification requirements and the information presented in financial statements and notes about a nonprofit entity's liquidity, financial performance, and cash flows, AccuFund has prepared not only its own nonprofit accounting software, AccuFund Accounting Suite, but also developed and assembled tools to help nonprofits successfully adapt to these new standards.

While the overall goal of FASB ASU 2016-14 is to provide more useful information to donors, grantors, creditors, and other users of financial statements, particularly addressing the long-term sustainability of the organization, questions remain for nonprofits around timing, financial statement presentations and choices, and implementation.

To that end, AccuFund has compiled a variety of sources including Nonprofit Quarterly's webinar segments addressing FASB ASU 2016-14, original FASB ASU 2016-14 documentation, blog articles and new popular white papers. 

"As part of the nonprofit ecosystem, AccuFund is proud to provide these resources to help nonprofits navigate the new FASB ASU 2016-14 reporting requirements," explains Ian Scotland, AccuFund Vice President and General Manager. "It is a process that requires understanding, coordination and collaboration. We want to make it as easy as possible for nonprofits to address these changes and help key contributors within their organizations have the resources they need to address these changes and continue moving their missions forward."

Is your organization ready? 

Visit www.accufund.com/fasb-asu-2016-14-reporting-requirements for all the valuable resources to help your nonprofit satisfy new FASB ASU 2016-14 reporting requirements.

About AccuFund  

AccuFund, Inc.  is a nonprofit financial improvement systems specialist offering scalable accounting software systems to nonprofit organizations and government agencies.  AccuFund uses award-winning financial software, consulting services and industry best practices to help organizations streamline processes, improve efficiency and lower costs. Their nonprofit financial solutions are available on-premise or cloud-based. 

In addition to hundreds of reports that can be generated and distributed directly from an AccuFund system, including new FASB ASU 2016-14 reporting requirements, critical information can be displayed through dashboards so that every manager has their key data metrics visible throughout the day.

AccuFund's products are available exclusively through Value Added Resellers (VARs) located throughout the United States.  The VARs provide AccuFund's customers with cost-effective onsite training and installation assistance.

For more information, call 877-872-2228 ext. 231, email [email protected] or visit www.accufund.com.

Contact: 
Kristen Faiola, Marketing & Media 
AccuFund, Inc. 
400 Hillside Ave. 
Needham, MA 02494
Phone: 781-433-0233 ext. 231 Fax: 781-453-0460
[email protected]

SOURCE AccuFund, Inc.