posts tagged as Accounting

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

FASB recently announced an extension for private companies that must become compliant with new lease accounting standards. What many nonprofits may not know is that this requirement applies to them. They have one year to go. What do they... read more

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... read more

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... read more

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 &... read more

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... read more

The role of the nonprofit CFO has grown far beyond the four corners of a financial statement. How has it evolved, and what can CFOs do to advance their organization’s mission? Our latest blog post, which recaps the CFO Panel at BDO’s... read more

How can you determine if your nonprofit is financially fit? Liquidity is an important part of the equation. Learn more about liquidity and new disclosure changes in our latest blog. read more

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. read more

A recent Q&A issued by the Financial Accounting Standards Board (FASB) indicates that nonprofits can apply guidance from the Securities and Exchange Commission (SEC) for applying Topic 740, Income Taxes, as it relates to tax reform. read more