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The Impact Of Asu 2016-14 On Not-For-Profit Operating Cash Flow Presentation, Grace Lauber
The Impact Of Asu 2016-14 On Not-For-Profit Operating Cash Flow Presentation, Grace Lauber
Honors Scholar Theses
In 2011, FASB added a project to its agenda to improve financial statement reporting for not-for-profit (NFP) entities. They issued a proposal in 2015 that would require all NFPs to use the direct method to report operating cash flows on the statement of cash flows. This proposal received a wide range of feedback from NFPs via comment letters. In response to this feedback, FASB altered the final update, ASU 2016-14, to continue allowing the indirect method. However, they encouraged use of the direct method by removing the indirect method reconciliation requirement for NFPs. This study examines the responses of 129 …