BDO In The Media

BDO professionals believe in the importance of staying on top of new trends, issues, and regulations. Viewed as industry leaders, our professionals are often turned to as media sources regularly appearing in major business journals, industry publications and media outlets. The following list is a sample of recent articles highlighting BDO's Nonprofit & Education practice.

August 2018


July 2018

  • Are Grants Subject to Revenue Recognition? (Venable blog)
    • With the deadline to implement revenue recognition fast approaching, the Financial Accounting Standards Board (FASB) issued clarified guidance to standardize how organizations classify grants. In a Venable blog, BDO’s Lee Klumpp explains what’s changed for nonprofits.
         
  • 990s: Failure to File (Credit Union Times)
    • BDO’s Marc Berger discusses the consequences of filing an inaccurate or incomplete Form 990 for credit unions and other tax-exempt organizations. 
 


June 2018

 
  • Strategies for Quality Work in Single Audits (Journal of Accountancy)
    • At the AICPA Not-for-Profit Industry Conference, BDO’s Laurie De Armond emphasized the responsibility that CPA practitioners have to focus on quality as they perform single audits. A full recap of the presentation appears in the Journal of Accountancy.
 
  • Are Grants Subject to Revenue Recognition? (CPA Practice Advisor)
    • Clarified guidance from the Financial Accounting Standards Board (FASB) could lighten the administrative burden of implementing revenue recognition for some nonprofits, BDO’s Lee Klumpp explains in CPA Practice Advisor, outlining a practical example for how to classify grants.
 
  • FASB Updates Accounting for Nonprofit Grants and Contributions (Accounting Today)
    • “Accounting changes are like a relay race,” BDO’s Lee Klumpp tells Accounting Today. “Today, the FASB handed off new clarified guidance on accounting for contributions and answered a longstanding question for the sector. Now, it’s up to nonprofits to apply it to their own books, run the rest of the race to implement revenue recognition guidance, and finish strong.”
   
  • Survey: Organizations Face “Starvation Cycle” (The Nonprofit Times)
    • BDO’s second annual nonprofit benchmarking survey, Nonprofits Standards, reveals that many organizations are not positioned for long-term financial sustainability. BDO’s Laurie De Armond and Adam Cole explain why the “starvation cycle” is a persistent phenomenon among nonprofits, and outline steps they can take to improve their fiscal health.
   
  • FASB Expected to Issue Nonprofit Accounting Guidance on Grants (Accounting Today)
    • In a conversation with Accounting Today, BDO’s Lee Klumpp previews a forthcoming clarification from the Financial Accounting Standard Board (FASB) that aims to standardize how grants are classified, as either an exchange transaction or a contribution.

 

May 2018
  • Clarity Coming for How Nonprofits Should Report Grants (Bloomberg Tax)
    • BDO’s Lee Klumpp explains forthcoming guidance from the Financial Accounting Standards Board (FASB) that will clarify how nonprofits should classify grants from the federal government, foundations, and other contributors.  

April 2018  
  • Is it time for nonprofits to consider merging? (Bennington Banner)
    • The Vermont-based publication zeroes in on the health of the state’s nonprofits and posits that the financial challenges captured in data from BDO’s benchmarking survey, Nonprofit Standards, could spur mergers of similar organizations.


February 2018

  • Special Report: Serving Nonprofits (Accounting Today – registration required)
    • Adam Cole reviews how the increasing uncertainty in the nonprofit sector lead to accounting and financial challenges.
     

January 2018