By Susan Friend, CPA The Governmental Accounting Standards Board (GASB) issued Statement No. 91, Conduit Debt Obligations, in May 2019 to attempt to eliminate diversity in practice related to the accounting for conduit debt issues. This Statement aims to improve the existing guidance for conduit debt that exists...
By Tammy Ricciardella, CPA Many nonprofits receive contributions of both cash and non-cash gifts and are often hesitant to refuse any donations offered. However, there are certain non-cash gifts that can cause issues and at times even cost the nonprofit money. To prevent these situations, nonprofits should...
This article discusses the trends that have been observed in years past, while at the same time, may have a major role in 2020 and beyond. Whether it is flexibility in schedules for nonprofit employees or sustainability impact, these trends could give your fundraising approach...
By Amy Guerra, CPA As calendar year end nonprofits have worked through the implementation of Accounting Standards Update (ASU) 2016-14, Not-for-Profit Entities (Topic 958): Presentation of Financial Statements of Not-for-Profit Entities, and turned their attention to implementing ASU 2014-09, Revenue Recognition, it’s important they don’t turn...
This article offers ten nonprofit trends that can be taken into consideration in an industry that is never constant. From budget cuts to cybersecurity, these trends are important to keep in mind as we approach 2020. To view this article, click HERE to access the original...
By Tammy Ricciardella, CPA Many nonprofit organizations receive a variety of gifts-in-kind (GIK) that provide them with resources to supplement their programming. GIK represent a wide variety of non-cash items donated to nonprofits. Nonprofits must follow Accounting Standards Codification (ASC) Topic 820, Fair Value Measurement, to account...
By Laurie De Armond, CPA, and Adam B. Cole, CPA All nonprofits want to do good. Helping their constituents and driving impactful, positive change in communities is what propels their mission forward. Whether they’re on a quest to combat social injustice, poverty or climate change, nonprofits...
By Marc Berger, CPA, JD, LLM and Katherine Gauntt It’s been more than a year since the Supreme Court announced the landmark decision in the South Dakota v. Wayfair case, opening the door for states to require organizations to collect and remit sales tax even if...
By Tammy Ricciardella, CPA On Aug. 15, 2019, the Financial Accounting Standards Board (FASB) issued an exposure draft that would grant private companies and nonprofit organizations additional time to implement FASB standards. Comments on the exposure draft are due by Sept. 16, 2019. The exposure draft describes...
By Amy Guerra, CPA As calendar year end nonprofits have worked through the implementation of Accounting Standards Update (ASU) 2016-14, Not-for-Profit Entities (Topic 958): Presentation of Financial Statements of Not-for-Profit Entities, and turned their attention to implementing ASU 2014-09, Revenue Recognition, it’s important they don’t turn...
