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 StandardsRead More →
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 collectionsRead More →
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 trendsRead More →
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 bill known as the Tax Cuts and Jobs Act, enacted in December 2017, added new Section 512(a)(7) to the Internal Revenue Code (IRC). This new section requires tax-exempt organizationsRead More →
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,Read More →
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 asRead More →
On Dec. 31, 2018, the IRS released Notice 2019-09 (the Notice), providing interim guidance regarding Section 4960 of the Internal Revenue Code (the Code) that was enacted onRead More →
On July 16, 2018, the Internal Revenue Service (IRS) released Revenue Procedure 2018-38, modifying the information reported to the IRS by certain tax-exempt organizations on their annual Form 990 orRead More →
Presentation of Restricted Cash and Cash Equivalents in the Statement of Cash Flows
/in Assurance, Advisory & Review, Blog, Nonprofit /by John TempletonBy 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 Read More →
FASB Issues ASU 2019-03, Updating the Definition of Collections
/in Assurance, Advisory & Review, Blog, Nonprofit /by John TempletonBy 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 Read More →
Top 10 Trends in the Nonprofit Industry
/in Blog, Nonprofit /by John TempletonBy 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 Read More →
Lessons Learned from Implementing ASU 2016-14 – Functional Expenses
/in Assurance, Advisory & Review, Blog, Nonprofit /by John TempletonBy 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 Read More →
Guidance Released on Taxable Income from Parking and Other Fringe Benefits
/in Blog, Nonprofit /by John TempletonBy Marc Berger, CPA, JD, LLM
The bill known as the Tax Cuts and Jobs Act, enacted in December 2017, added new Section 512(a)(7) to the Internal Revenue Code (IRC). This new section requires tax-exempt organizations Read More →
GASB Simplifies Accounting for Capitalized Interest
/in Blog, Nonprofit /by John TempletonBy 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, Read More →
The Uniform Guidance – Five Years and Counting
/in Blog, Nonprofit /by John TempletonBy 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 Read More →
IRS Answers Many Questions on New 21% Executive Compensation Tax
/in Blog, Nonprofit /by John TempletonBy Norma Sharara, JD and Joan Vines, CPA
On Dec. 31, 2018, the IRS released Notice 2019-09 (the Notice), providing interim guidance regarding Section 4960 of the Internal Revenue Code (the Code) that was enacted on Read More →
Significant Rule Change for Certain Tax Exempt Organizations Reporting Donor Information
/in Blog, Nonprofit /by John TempletonBy Marc Berger, CPA, JD, LLM
On July 16, 2018, the Internal Revenue Service (IRS) released Revenue Procedure 2018-38, modifying the information reported to the IRS by certain tax-exempt organizations on their annual Form 990 or Read More →
Identifying and Overcoming Common Nonprofit Challenges
/in Blog, Nonprofit /by John TempletonBy Laurie De Armond, CPA, and Adam Cole, CPA
Nonprofit organizations are uniquely shaped by their mission, history, size, program goals and community.
But leaders of these organizations—whether a CFO at a global health services charity, a Read More →