A&A news from around the web: August 28 – September 1, 2017

Written on Aug 31, 2017

Nonprofits prepare for major changes to guidance for expenses and investments
FASB's not-for-profit accounting standard is the first major update to not-for-profit reporting in more than two decades, and it aims to lend better insight into how an organization operates and manages its finances.

AICPA study shows more single audits leading to greater conformity
The AICPA has determined three key factors that must be present for a quality performance in a single audit, following a study that was conducted in 2016.

FASB updates
FASB has updated the following project summaries on its website:

Technical corrections and improvements

Customer’s accounting for implementation costs in a cloud computing arrangement that is considered a service contract

 

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