An exposure draft released by FASB in April 2015 will dramatically change the presentation of financial statements for not-for-profit entities. This series of three courses provides a detailed review of the changes outlined in the exposure draft. This course provides an overview of changes and description of combining three classes of net assets into two. Upon completion of this course, you should be able to: Summarize the two required operating measures; Recognize how the three current classes of net assets will be combined into two classes; Identify the new proposed requirement for direct reporting of operating cash flows; Identify some of the major reasons the Financial Accounting Standards Board is making the changes outlined in the exposure draft.