FASB recently made modifications to the nonprofit financial reporting model after many years of stability. This discussion covers those changes and analyses to see if the changes appear to provide the desired outcomes.

FASB issued a new financial reporting standard for nonprofit organizations on August $18,2016.$ The intention of the new standard was to simplify the classification of net assets. Efforts were also made to improve the areas of general financial performance information, cash flow, and liquidity.

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

Read Financial Statements of Not$-$ForProfit Entities

Review the various FASB changes to the nonprofit financial reporting model.

Discuss at least two of the changes.

Determine if the changes will improve the ability of a nonprofit to "tell their financial story."

Support your evaluation of these changes.