FASB Votes to Simplify Accounting for Common Control Leases
For common control leases, the FASB is drafting amendments to simplify determining whether a lease exists, the classification of the lease, and accounting for leasehold improvements.
Why Do Nonprofits Need Financial Statement Services? Part 2: Federal Compliance
Federal compliance requirements like single audits require nonprofits to have financial statement services performed.
Why Do Nonprofits Need Financial Statement Services? Part 1: State and Grantor Compliance
Nonprofit compliance requirements vary from state to state. Private foundations, agencies, and other grantors often have their own requirements, too. It’s important for organizations to understand what these are before accepting any funding.
Implementing the Lease Standard: Things to Remember
The new lease standard has brought about a lot of changes. In this blog post, we will discuss some of the most important things to remember when implementing ASC 842. We'll also provide a checklist of tasks that should be completed in order to ensure compliance with the new lease standard.
Webinar Recording | Implementing the Lease Standard, ASC 842
This webinar recording from November 30 provides an overview of the lease accounting standard and a demo of our software solution designed to ease the burden of implementation for your organization. We will also address some of the common pitfalls, business implications, possible financial benefits, and more.
Best practices to consider when changing your audit firm
When changing your auditor, these best practices can ensure a smooth transition that leads to business gains.
Evaluating Auditing Firms
With big plans for the future, growing private companies need auditors with the experience and insights to take the journey with them.
OMB Issues 2022 Compliance Supplement
The OMB has released the 2022 Compliance Supplement, which is effective for audits of fiscal years beginning after June 30, 2021.
Five considerations for changing auditors
As your business grows, it's imperative to have an audit firm whose capabilities grow with you. Assess if it's time for a change.
Signs an Organization May Be Headed for a Potential Single Audit
Many organizations may not be aware they’re subject to a single audit. It can help to look at similar scenarios to determine compliance requirements when accepting funds greater than $750,000.