Answer the question below about Not-for-Profit entities using complete sentences and proper references to the...
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Accounting
Answer the question below about Not-for-Profit entities using complete sentences and proper references to the authoritative code(FASB Accounting Standards Codification).
Explain how the presentation of the Statement of Financial Position and the Statement of Activities for Non-Profits have changed as a result of Accounting Standards Update 2016-14 (ASU 2016-14),referencing the relevant accounting code. Insert images directly from the code following your explanation that depicts the updated presentation according to the FASB Codification for both the Statement of Net Assets and the Statement of Activities.
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