NOT-FOR-PROFIT ACCOUNTING LITERATURE

Cross-references between the FASB Accounting Standards Codification (ASC) and Previous Guidance

As more fully described in Chapter 1, the source of all authoritative generally accepted accounting principles for not-for-profit organizations is now contained in the FASB Accounting Standards Codification (ASC). The following tables cross-reference several of the more common ASC sections with the prior FASB pronouncements to assist readers in navigating the ASC. References in these charts to the AICPA Audit & Accounting Guide are to the 2012 edition of the Guide. Some chapters have been rearranged in the 2013 edition.

An additional table in this section provides the reader with a list of the relatively recently issued (2011 through September 2013) Accounting Standards Updates (“ASUs” which amend the ASC) issued by the FASB. Most of the ASUs will not affect the accounting and financial reporting for many, if not all, not-for-profit organizations and are not discussed in this book. However, it is important for the reader to be aware of the changes being made to the ASC so that any potential impacts of these changes can be evaluated. Where a specific ASU is addressed in a chapter of this book, that chapter is indicated in the table.

ASC–from previous:

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Previous–to ASC:

Accounting Standards Updates Issued During 2011 through 2013 (September)

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