Entries by John Templeton

Don’t Be a CF-No: How Nonprofit CFOs Can Collaborate with Senior Leadership

By Laurie De Armond, CPA, and Adam Cole, CPA In a recent insight, we explored the concept of “Nonprofit Heart, Business Mindset”–which, put simply, is the belief that nonprofit organizations must pursue business-oriented management practices to thrive long-term, without losing sight of their core mission. Nonprofit chief financial officers (CFO) are uniquely positioned to embody […]

ASU 2016-14 – Liquidity and Availability Disclosure Issues

By Tammy Ricciardella, 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, we have seen quite a bit of diversity in the preparation of the liquidity and availability disclosure required by the ASU. To improve the ability of […]

From Idea to Impact: 4 Fundamental Elements for Sustainability

By Laurie De Armond, CPA, and Adam Cole, CPA The world needs nonprofits to continue striving for meaningful impact on a wide range of social, economic and human rights issues, and it needs them to remain financially healthy. To do so, organizations need to balance a nonprofit heart with a business mindset. Your mission is […]

Presentation of Restricted Cash and Cash Equivalents in the Statement of Cash Flows

By Amy Guerra, CPA Historically there has been diversity in practice among nonprofits with regard to presentation of restricted cash and cash equivalents in the statement of cash flows. To address this diversity, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016‑18, Statement of Cash Flows (Topic 230): Restricted Cash. As […]

FASB Issues ASU 2019-03, Updating the Definition of Collections

By Lee Klumpp, CPA, CGMA The Financial Accounting Standards Board (FASB or the Board) issued Accounting Standards Update (ASU) 2019-03, Updating the Definition of Collections, to address the issue that the definition of the term collections in the Master Glossary of the FASB Accounting Standards Codification (ASC) was not fully aligned with the definition used […]

Top 10 Trends in the Nonprofit Industry

By Laurie De Armond, CPA and Adam Cole, CPA The nonprofit industry is anything but static. Many outside factors impact their daily operations. Following is a list of what we see as the top 10 trends that are currently impacting nonprofit organizations. Protecting Nonprofit Nonpartisanship The current political environment has created a lot of uncertainty.  […]

Lessons Learned from Implementing ASU 2016-14 – Functional Expenses

By Tammy Ricciardella, CPA Nonprofit organizations with calendar year ends are working to implement the provisions of Accounting Standards Update (ASU) 2016-14, Not-for-Profit Entities (Topic 958): Presentation of Financial Statements of Not-for-Profit Entities. The ASU is effective for annual financial statements issued for fiscal years beginning after Dec. 15, 2017. Specifics of the requirements of […]

GASB Simplifies Accounting for Capitalized Interest

By Susan Friend, CPA The Governmental Accounting Standards Board (GASB) Statement No. 89 (Statement), Accounting for Interest Cost Incurred before the End of a Construction Period, which is effective for reporting periods beginning after Dec. 15, 2019, brings a welcome relief to state and local governments by eliminating complex capitalized interest calculations. Under this Statement, […]

The Uniform Guidance – Five Years and Counting

By Matt Cromwell, CPA It has been over six years since Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, more commonly known as the Uniform Guidance (UG) was released. The date of Dec. 26, 2013, will forever be seen as the day […]