Are the Financial Accounting Standards Board's Current Standards for Nonprofit Organizations More Useful Than Previous Guidance?

摘要

The purpose of this paper is to find out whether the Statement of Financial Accounting Standards No. 117 provides more useful information to users than previous nonprofit financial accounting guidance under individual audit guides. More information is required under the new standards, as well as different financial statement formats. However, some users may find new financial statements confusing. Furthermore, the financial statements require no measure of operating income, despite users' request for some type of "bottom line". However, most users should find the new information helpful and the new format more useful. In my study, I administered a questionnaire to 66 accounting students to determine if they could assess from the financial statements information deemed to be useful. Overall, the statements prepared under SFAS No. 117 appear to present that information better than the financial statements under the audit guides.