KPMG’s insights on changes to NFP disclosures in ASC 958. KPMG explains the new standard on financial statement presentation for NFPs, providing our observations and analysis.
Mandatory effective dates and early adoption provisions:
|Effective Date||Not-for-profit entities|
|Annual periods – Fiscal years beginning after||Dec. 15, 2017|
|Interim periods – In fiscal years beginning after||Dec. 15, 2018|
|Early adoption allowed?||Immediately|