Preparing for the New FASB Guidelines

Last year, the Financial Accounting Standards Board issued proposed changes impacting net asset classification requirements and other fundamental aspects of nonprofit financial statements. Join nonprofit accounting and policy expert, Susan Budak, as she reviews the proposed model, reactions from the nonprofit community and its auditors, and the possible effects on your organization.

About the presenter

Susan Weiss Budak is a consultant and author. As a consultant, she works primarily with the American Institute of Certified Public Accountants (AICPA) and the National Association of College and University Business Officers (NACUBO). She assisted the AICPA task forces that overhauled the not-for-profit and health care guides; and annually, she helps the AICPA update that guide and the disclosure checklist for not-for-profit organizations. Ms. Budak is a co-author of NACUBO’s financial accounting and reporting manual. As an author, she annually contributes to four Practitioner’s Publishing Company guides about nonprofit accounting. Prior to becoming a consultant, Ms. Budak worked for the Financial Accounting Standards Board (FASB) and Governmental Accounting Standards Board (GASB) as a project manager. She has also served as assistant controller and director of accounting services at Northwestern University in Evanston, Illinois and senior accountant at Deloitte & Touche in Chicago, Illinois.