Transcription of ASU 2016-14 Illustrative Financial Statement Example
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2019, Association of International Certified Professional Accountants. All rights reserved. Report of Independent Auditors and Financial Statements for Big National Charity, Inc. December 31, 20XX and 20XX ASU 2016-14 Financial Statement Example The AICPA's Not-for-Profit Expert Panel created this set of Illustrative Financial statements that shows the implementation of ASU 2016-14 . This document provides a non-authoritative Example of a possible presentation of a complete set of Financial statements for a nongovernmental NFP that is not a health care provider under current GAAP. The Example is fictitious.
Concentrations of credit risk – Financial instruments that potentially subject Big National Charity, Inc. to concentrations of credit risk consist principally of cash and cash equivalents and investments. Big National Charity, Inc. maintains its cash and cash equivalents in various bank accounts that, at times, may
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