205-40

nonprofit's ASC 205-40

Attesting to Your Nonprofit’s Ability to Survive

Are you certain that your nonprofit’s financially stable enough to be operating in a year? U.S. Generally Accepted Accounting Principles (GAAP) give your nonprofit a reason to evaluate that proposition. Evaluating your organization Accounting Standards Codification (ASC) 205-40 requires management to perform a going-concern evaluation each time annual or interim financial statements are issued. Management’s…

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