The Accountant and Child Care Advocacy: Part One

Photo courtesy: http://usa.childcareaware.org/about/2017-child-care-aware-of-america-policy-summit/ You may be wondering how you landed on an article written by a CPA that is not related to a technical issue? Allow me to explain. Recently, my wife and I received an opportunity to attend the Child Care Aware® of America’s 2017 Family Advocacy Summit. This 3 part series will take[…]

Uniform Guidance Handouts

Organizations, including not-for-profit entities, receiving federal awards are subject to the new Uniform Guidance. The Uniform Guidance was effective for fiscal years beginning after 12/26/14 and supersedes guidance from previous OMB circulars. Most organizations will be impacted by these changes during their 2015 or 2016 fiscal year. Changes include increasing the threshold for requiring single[…]

Proposed Changes to Not-for-Profit Financial Reporting

The Financial Accounting Standards Board (FASB), the organization that sets accounting standards, is in the process of evaluating the current accounting and reporting requirements for not-for-profit organizations. FASB expects to issue an exposure draft with proposed changes to the existing required presentation of net assets and cash flows and current disclosures related to liquidity and[…]

Nonprofit Entities Mergers and Acquisitions Under the New Accounting Guidance

Many nonprofit entities are contemplating merging with or acquiring another organization as a response to the troubled economy of late.  Management of these nonprofits see the challenges presented to struggling organizations and consider mergers and acquisitions as a way to shore up finances, consolidate fundraising efforts and reduce administrative costs.  Mergers and acquisitions are also[…]