Implementing the financial accounting standards board (FASB) Accounting Standards Update (ASU) 2016-14, Presentation of Financial Statements for Not-for-Profit entities can be confusing. The updated standard states nonprofits must present an analysis of expenses by their function and natural expense classifications in one location, such as in a statement of functional expenses.
Growing the Corrigan Krause team and promoting our professionals allows us to build the strongest and most effective team for our clients. During this unique and challenging year, our team more than rose to the challenge, working together to keep our clients informed and up to date on financial and legislative changes. A number of our professionals developed their skills and earned a much deserved promotion.