During the creation of the new nonprofit reporting standards, FASB solicited input from all interested$/$impacted parties. This discussion reviews the areas specific to the deliberation and provides an opportunity for analysis.

In creating new policies and standards, FASB typically provides opportunities for stakeholders to speak into the process. Accountants should always be aware of proposed changes and the potential impact on their organization. Having an opportunity to provide feedback is an important responsibility of practicing accountants as changes made by the various governing bodies have a long$-$term operational impact.

Review FASB accounting standard update $-$ Not$-$for$-$Profits: Why a new not$-$forprofit financial reporting standard.

Read and visit Not$-$for$-$profit financial reporting.

Review Tentative Board decisions.

In this discussion, chose one of the areas from the FASB deliberations document.

Discuss the pros and cons of the recommended change.

What would your feedback have been to the Board should you have responded during their informationgathering process?

Post your responses in the discussi