Forging Nonprofit Accounting Principles--An Update.

Key Points

• This article updates previous work on nonprofit accounting by analyzing guiding factors and decisions made by a key subcommittee.
• Review of factors influencing the AICPA's Subcommittee on Nonprofit Organizations.
• Analysis of the conclusions drawn in Statement of Position 78-10.
• Identification of the reasons behind major conclusions of the Subcommittee.
• Insights into the evolving nature of nonprofit accounting principles.