Through a combination of practical guidance and case studies, the author provides insight into what makes not-for-profits different. Updated for revenue recognition, grants and contracts, and financial reporting, this book offers guidance on FASB's new financial statement standard and revenue recognition standard which will have a major impact on financial reporting for not for profits. It helps answer the questions: Are you aware of how not-for-profit financial statements will change because of FASB's Financial Statement Standard? Do you know what makes not-for-profit accounting and financial reporting different? Key topics include: Grants and contracts Expense reporting NFP financial statement standard Revenue recognition Performance measures