posts tagged as Accounting
By Tammy Ricciardella | February 10, 2020
FASB Issues Proposed Standard Related to Reference Rate Reform
With LIBOR on its way out, FASB has issued a proposed Standards Update governing a wide range of necessary contract modifications triggered by reference rate reform. It’s also laid out several temporary optional practical expedients to...
By Tammy Ricciardella | April 24, 2019
Lessons Learned from Implementing ASU 2016-14 – Functional Expenses
Since the Financial Accounting Standards Board released their massive Accounting Standards Update (ASU) for nonprofit financial reporting, one area has caused significant stress—functional expenses. In our latest blog post, Tammy...
By Katherine Gauntt | January 17, 2019
Impact of the Wayfair Supreme Court Decision on Nonprofits
Do you know all the ways the Supreme Court’s decision in South Dakota v. Wayfair could impact your nonprofit organization? Whether or not your organization offers goods and services, all organizations could now face extra costs to comply...
By Joe Sremack | July 10, 2018
An Introduction to Robotic Process Automation for Nonprofits
Robotic process automation (RPA) is helping both for-profit and nonprofit organizations do more with less. How are businesses using it today, and how can nonprofits adapt it for their needs? Joe Sremack, director of BDO’s Data Analysis &...
Are Grants Subject to Revenue Recognition?
Today, the Financial Accounting Standards Board (FASB) issued clarified guidance on accounting for contributions. To help nonprofits understand the changes, the Nonprofit Standard blog outlines a practical example of how to classify a...
Podcast: 7 Steps to Revenue Recognition Readiness
What prompted the FASB to release its new revenue recognition standard, and how can nonprofits prepare? BDO’s Lee Klumpp and Carla DeMartini answer these questions and more in a recent New York Nonprofit (NPN) Media podcast.