New Guidance for Nonprofits Regarding Services Received from Personnel of an Affiliate

The Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2013-06, Not-for-Profit Entities: (Topic 958): Services Received from Personnel of an Affiliate in April. The guidance in the update — effective for fiscal years beginning after June 15, 2014, and for interim and annual periods thereafter — clarifies the guidance related to how not-for-profits should recognize and measure services provided by personnel of an affiliate under direct supervision of the recipient not-for-profit, or shared services of an affiliate group that the recipient would have to purchase if they were not provided.

MHM Messenger 20-13 provides additional information about this guidance from the FASB.

MHM Messenger 20-13: FASB Offers New Guidance to Nonprofits for Services Received from Personnel of an Affiliate

%d bloggers like this: