On November 9, 2011, the chairman of the FASB announced that a standard-setting project intended to improve the financial reporting of not-for-profit organizations had been added to the FASB's agenda. Examine the Financial Accounting Standards Board's Web site (www.FASB.org) to find information about this project. Write a report out lining the objectives of the project and its current status. Include in your discussion what role the Not-for-Profit Advisory Committee (NAC) played in this project.