Click here for a list of helpful links to help you find information that may be of interest to you. If there are other links you believe would be useful, email us to let us know.


Welcome to the MSL Blog!  A resource that offers guidance and thought leadership on issues to help your organization navigate the financial landscape in an ever-changing environment


Accounting Standards Update significant changes of not-for-profits financial reporting requirements

Accounting Standards Update (ASU) 2016-14, Presentation of Financial Statements of Not-for-Profit Entities, significantly changes the financial reporting requirements for not-for-profits (NFPs).  Reporting changes include (a) net assets, (b) investment income and expenses, (c) functional expenses, and (d) cash flows.  Additionally, ASU 2016-14 requires additional disclosures regarding liquidity and availability of resources.  This new guidance is effective for annual reporting periods beginning after December 15, 2017. 

To assist in understanding these impacts, MSL has developed a supplemental checklist to assist financial preparers with the implementation of ASU 2016-14 

Free access to ASU 2016-14 and all other ASUs can be obtained for free at, Standards, Accounting Standards Updates Issued.

Downloadable (PDF) ASU 2016-14 Checklist

If you would like to discuss this topic further, please contact: 
Jeff Goolsby, CPA, CGMA, MSA
Scot Aurelius, CPA, MSA
Rob Matschner, CPA, MSA
Farlen Halikman, CPA, CHFE
Julie A. Baird, CPA
Michael Gossman, CPA, CFE, CFF
Dan O'Keefe, CPA, CFE, MBA
William Blend, CPA, CFE
Joel Knopp, CPA