Category: Nonprofit

FASB Clarifies Nonprofit Grants and Contributions
FASB Clarifies and Improves Guidance for Nonprofit Grant and Contributions Accounting

The FASB issued ASU 2018-08 to clarify the accounting guidance related to contributions made or received.…

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Are You Prepared for Liquidity Disclosures
Are You Prepared for Liquidity Disclosures?

o make nonprofit financial reporting more transparent, the Financial Accounting Standards Board (FASB) has published…

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What Nonprofits Need to Know About Revenue Recognition
What Nonprofits Need to Know About Rev Rec

With ASC 606 – the Financial Accounting Standards Board’s (FASB) new revenue recognition standard –…

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MA Nonprofits Getting to Know the CORE Plan
MA Nonprofits: Getting to Know the CORE Plan

The Connecting Organizations to Retirement (CORE) Plan was launched in late 2017 as a 401(k)…

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MA Nonprofits Getting to Know the CORE Plan
Pledge Receivables: The Accounting Isn’t As Simple As It Might Seem

It’s welcome news for a nonprofit when a donor promises to make a contribution at…

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Nonprofits & Cybersecurity: Countering Weaknesses with Sound Controls
Nonprofits & Cybersecurity: Countering Weaknesses with Sound Controls

In January 2017, Indiana-based nonprofit, Little Red Door – which provides cancer services to local…

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The Nonprofit Case for Internal Controls
The Nonprofit Case for Internal Controls

The core of any organization’s fraud-prevention program is strong internal controls. Yet too many nonprofits…

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What’s the Difference Between Nonprofit and For-Profit Financial Reporting?
What’s the Difference Between Nonprofit and For-Profit Financial Reporting?

Board members and new staff with for-profit backgrounds don’t always grasp the differences between the…

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Private Companies and Nonprofit Entities Can Apply SAB 118
Private Companies, Nonprofit Entities Can Apply SAB 118

The FASB staff would not object to private companies and nonprofit entities applying SAB 118…

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Hand holding a compass
Facilitating a Smooth Independent Audit

Few of us enjoy taking tests, and unfortunately that’s what independent audits sometimes feel like.…

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