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Museums & Performing Arts Update: Impact of New FASB Guidelines


The FASB has clarified the framework for defining “collections” to align with the American Alliance of Museums’ Code of Ethics for Museums.

Our museum and performing arts accounting and tax experts will review recent FASB updates from Topic 958, Not-for-Profit entities, focused on the clarification of the definition of collections. We will also discuss what your organization can do now to prepare for your financial statements issued for fiscal years beginning after December 15, 2019.

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