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Running head: Nonprofit Organization1Nonprofit Organization:Name:Institution affiliation:Date:Non-Profit Organization2Arkansas nonprofit alliance (ANA) is a state association situated in Arkansas of nonprofitorganizations & it is also the representative of Arkansas State to the National council of Nonprofits.The members to this association include businesses, nonprofits as well as all individuals who arecommitted to excellence in the states nonprofit sector.In relation to the compliance of the organizations financial statements to the FinancialAccounting Standards Board (FASB) guidance in Statement No. 117, which require all nonprofitorganizations to provide a financial position statement a statement of cash flows as well as astatement of activities, ANAs financial statement conformed with this standards. This is so sincethe organizations financial statement not only shows the current assets but it also shows theorganizations liabilities as well as net assets as required by the FASB guidance. Additionally,compliance is evident in the way the organization reports changes in the organizations assets aswell as is revenues & expenses. The change in net assets has been reported by the organization byidentifying unrestricted as well as temporarily restricted assets. (FASB, 1993). The two areas ofpotential interest to stakeholders in relation to the status of the organizations revenue is themembers ship fees as well as the program servic ...


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