posts tagged as Accounting

In 2016, the Financial Accounting Standards Board (FASB) updated its lease accounting guidance (ASC Topic 842) and closed a diversity in practice in the previous standard. The major change is that organizations must now include lease... read more

Whether you are facing an audit for the first time or you have been audited for years, making sure that your nonprofit organization is ready can be overwhelming, especially given the challenges of COVID-19. read more

The pandemic has inspired many nonprofits to reflect on what’s working well for their organizations and what could be working better. Discover important considerations nonprofits should keep in mind when it comes to reevaluating how they... read more

The Financial Accounting Standards Board (FASB) has issued the anticipated Accounting Standards Update on presentation and disclosures of contributed nonfinancial assets for nonprofits. Our latest blog post details how the gifts-in-kind... read more

Recently the Federal Reserve announced an expansion to its Main Street Lending Program (MSLP) to aid nonprofit organizations impacted by COVID-19. Though the application process is not yet open, organizations should begin forecasting... read more

On July 2, 2020, the Senate unanimously passed legislation to assist nonprofits and governmental entities. The House passed the bill in a pro forma session on July 9, 2020. The bill is now headed to the president for his signature. read more

Facing unprecedented disruptions, the world is relying on nonprofits more than ever before. Now in its fourth year, our annual Nonprofit Standards benchmarking survey arms your organization with the metrics needed to gauge how you stack... read more

In what would be a tremendous victory for the restaurant industry, the House is expected to vote next week on a stand-alone, bipartisan Paycheck Protection Program bill. read more

On Friday, May 15, 2020, the Small Business Administration (SBA) released the Paycheck Protection Program (PPP) Loan Forgiveness Application. Concurrent with the application’s release, the Department of the Treasury announced that... read more

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... read more