FASB
Po Box Washington DC Dear Board Members RE: proposed changes of FASB and the impact of the changes on reporting of financial information The proposed changes will affect the way profit and not for profit organizations prepare and present financial information. To start with, the balance sheet of not for profit organization will be affected because the three classes of assets i.e. unrestricted, permanently restricted and temporarily restricted assets will no longer be reported in that format. They will be replaced with a simplified model that combines permanently restricted assets and the temporarily restricted assets into one i.e. net ...