Proposed changes to the NFP reporting model

http://www.journalofaccountancy.com/issues/2015/jul/not-for-profit-financial-reporting.html The FASB exposure draft is highlighted in this Journal of Accountancy article. Changes proposed to classes of net assets and statement of cash flows, are two of the items. Improvements to liquidity discussions are also included. Aug 20 is the comment period deadline.

State and Local governments taking too long to

get their financials ready.   Issues for muni bond investors who want timely information http://www.reuters.com/article/2013/10/08/municipals-reports-timing-idUSL1N0HY1J620131008

Nonprofit accounting and reporting

Not a new resource, but new to me.   Nice coverage of material and financials.   Thanks to the Greater Washington Society of CPAs Educational Foundation for presenting this material and article by Elizabeth Hamilton Foley.  There are other good Nonprofit accounting materials by her as well from this particular link.

http://www.nonprofitaccountingbasics.org/reporting-operations/statement-financial-position

FASAB seeking comments on proposal

to ensure appropriate organizations are included in the Federal government reporting.   Comments are requested by July 3.  http://journalofaccountancy.com/News/20137719.htm

2009 Survey of Governmental CFOS

http://www.grantthornton.com/staticfiles/GTCom/Public%20sector/CFO%20survey/2009%20AGA%20Survey.pdf is located at this link. It is titled The Recovery and Transparency Imperative. This annual survey is sponsored by the AGA and Grant Thornton, andinterviewed and surveyed State Financial Officers in US and Canada CFOs. The results emphasized the importance of financial management and transparency in these economic times, and included advice for new CFOs (#1 was attending to the relationships with stakeholders, notice this and several other of the top pieces of advice was not technical, but behavioral). Also guidelines for making the annual reports more transparent are provided in this 32 page easy to read document.