The Financial Accounting Standards Board (FASB) has new rules for how nonprofits that follow Generally Accepted Accounting Principles (GAAP) must report and value “non-financial assistance” — commonly known as gifts in kind. The changes are effective for annual periods beginning after June 15, 2021, and interim periods within annual periods beginning after June 15, 2022….
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Sechler Morgan CPAs PLLC is an Arizona-based CPA firm dedicated to serving nonprofit organizations with care and purpose since 1985.