Nonprofit Reporting of Expense Allocations
Accounting Standards Update (ASU) 2016-14, Presentation of Financial Statements of Not-for-Profit Entities (Topic 958), issued August 18, 2016 by the Financial Accounting Standards Board (FASB), [...]
The Basics of Temporarily Restricted Contributions
For some nonprofit organizations, contributions are a significant source of revenue. Proper accounting treatment for those contributions is key, which include tracking and monitoring restricted [...]
Rules of Engagement: Dealing With External Auditors
Banks’ financial statements tell their performance story to the outside world. Because the banks’ independent external auditor’s reports provide assurance about the quality of the [...]