Not-for-Profit Update

We do not advocate user interest in the financial domain at the moment; just track it. Finances underlie all activity in education communities so it is wise to at least keep pace. The Financial Accounting Foundation is very well run, in our opinion,; a solid example for other standards setting organizations if the same kind of money flows through them.

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Not-for-Profit Update

November 6, 2023
mike@standardsmichigan.com
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We track action in the catalog of this consortia standards developer because we continually seek ways to avoid spending a dollar to save a dime; characteristic of an industry that is a culture more than it is a business.

 

While not an ANSI accredited the FASB/GASB standards setting enterprise’s due process requirements (balance, open-ness, appeal, etc.)* are “ANSI-like” and widely referenced in education enterprise management best practice.  Recent action in its best practice bibliography is listed below

ACCOUNTING STANDARDS UPDATES ISSUED

For obvious reasons, we have an interest in its titles relevant to Not-For-Profit Entities

WHAT IS THE FASB NOT-FOR-PROFIT ENTITY TEAM

At present the non-profit titles are stable with the 2020 revision.  That does not mean there is not work than can be done.  Faculty and students may be interested in the FASG program linked below:

Academics in Standard Setting

Also, the “Accounting for Environmental Credit Programs”, last updated in January, may interest colleges and universities with energy and sustainability curricula.  You may track progress at the link below:

EXPOSURE DOCUMENTS OPEN FOR COMMENT

The Battle about Money

We encourage our colleagues to communicate directly with the FASB on any issue (Click here).   Other titles in the FASB/GASB best practice bibliography are a standing item on our Finance colloquia; open to everyone.  Use the login credentials at the upper right of our home page.

 

Issue: [15-190]

Category: Finance, Administration & Management, Facility Asset Management

Colleagues: Mike Anthony, Jack Janveja, Richard Robben


Workspace / FASB GASB

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