Gifts-in-Kind: New Reporting Requirements for Nonprofits
Nonprofits that receive contributions of nonfinancial assets are subject to new financial reporting rules. Because of the nature of nonprofits and the far-reaching impacts of this standard, it’s important to...
Not-for-Profits Now Benefit from GAAP Alternatives
The Financial Accounting Standards Board (FASB) recently announced that it will now extend two of its private company accounting alternatives to include not-for-profit organizations through Accounting Standard Update (ASU) 2019-06....
New Accounting Standard Brings Big Changes to Not-for-Profit Financial Reporting
Not-for-profit organizations will see big changes coming soon to their financial reporting. After years of discussion, the Financial Accounting Standards Board (FASB) issued a new accounting standard aimed to improve...
IRS Lowers Fees for Tax-Exempt Charity Application
Now there’s a headline you don’t see too often: “IRS Lowers Fees…” It’s true. Effective July 1, 2016, the IRS has taken steps to continue to ease the application process...
Moving Forward with SSARS 21
December 15, 2015 marked an important date in accounting and review standards history. One of the biggest changes in over 35 years went into effect—a standard that now provides distinction...
Record Retention Guidelines and Policy Development
Although the topic of recordkeeping, including retention and destruction of records, may appear to be straightforward, there are different rules and regulations governing the varying retention periods for records of...
Gifts-in-Kind: New Reporting Requirements for Nonprofits
Nonprofits that receive contributions of nonfinancial assets are subject to new financial reporting rules. Because of the nature of nonprofits and the far-reaching impacts of this standard, it’s important to...
Not-for-Profits Now Benefit from GAAP Alternatives
The Financial Accounting Standards Board (FASB) recently announced that it will now extend two of its private company accounting alternatives to include not-for-profit organizations through Accounting Standard Update (ASU) 2019-06....
New Accounting Standard Brings Big Changes to Not-for-Profit Financial Reporting
Not-for-profit organizations will see big changes coming soon to their financial reporting. After years of discussion, the Financial Accounting Standards Board (FASB) issued a new accounting standard aimed to improve...
IRS Lowers Fees for Tax-Exempt Charity Application
Now there’s a headline you don’t see too often: “IRS Lowers Fees…” It’s true. Effective July 1, 2016, the IRS has taken steps to continue to ease the application process...
Moving Forward with SSARS 21
December 15, 2015 marked an important date in accounting and review standards history. One of the biggest changes in over 35 years went into effect—a standard that now provides distinction...
Record Retention Guidelines and Policy Development
Although the topic of recordkeeping, including retention and destruction of records, may appear to be straightforward, there are different rules and regulations governing the varying retention periods for records of...