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[…]

Not-For-Profits: Focus on Fiscal Matters

By Jim Lovelace, Shareholder Many not-for-profit organizations have been unable to escape the effects of the current bear market. Although not-for-profits are not typically market risk takers, the weakened market did not discriminate and all sectors are feeling the pain today. With the recent economic downturn, portfolios have lost ground. Not-for-profit organizations have had to[…]

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[…]