In 1993, FASB issued Statement No. 116, Accounting for Contributions Received and Contributions Made (codified in FASB ASC 605, 720, and 958), and Statement No. 117, Financial Statements of Not-for-Profit Organizations (codified in FASB ASC 958). These statements revolutionized the field of not-for-profit (NPO) accounting, standardizing reporting requirements for various types of NPOs, while allowing a considerable degree of flexibility for financial statement presentation. This course is updated for changes resulting from ASU 2016-14 on the financial statements and ASU 2017-02 on consolidations. This course is most appropriate for the professional with detailed knowledge in not-for-profit accounting and reporting who may be at a mid-level position within an organization with operational or supervisory responsibilities, or both.