FASB readies nonprofit accounting changes.

• Position: FASB

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The Financial Accounting Standards Board is getting ready to unveil a set of proposals that could have a major impact on the way nonprofit organizations present their financial statements.

The scaled-back set of changes is expected this summer, with further changes planned for the future. The amendments would be effective for financial statements for fiscal years beginning after Dec. 15, 2017, and for interim periods within fiscal years beginning after Dec. 15, 2018, with early...