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Last call for lease accounting!
August 4, 2022The updated lease accounting standard is currently in effect for private companies. After several postponements during the pandemic, the Financial Accounting Standards Board (FASB) voted unanimously to move forward with the changes. That means private companies and private not-for-profit entities that follow U.S. Generally Accepted Accounting Principles (GAAP) must adopt the new standard for fiscal […]
Reviewing — and possibly revising — your nonprofit’s spending policy
July 17, 2022A spending policy is the formula used to determine how much of the value of investments a nonprofit organization will tap each year for such expenses as operating costs and capital projects. Although it’s usually a good idea to stick with an established spending policy, circumstances may warrant changes. There’s no one-size-fits-all optimal spending policy. […]
Oversight and controls are key to limiting fraud in nonprofits
July 17, 2022Recently, the Association of Certified Fraud Examiners (ACFE) published its biannual Report to the Nations: 2022 Global Study on Occupational Fraud and Abuse. Of all the types of organizations surveyed by the ACFE, not-for-profits actually were the least likely to experience occupational fraud. However, nonprofits also are generally the least likely to be able to […]
How to cut costs instead of your nonprofit’s staff
June 23, 2022When the COVID-19 pandemic forced lockdowns in Spring 2020, many not-for-profit organizations initially resisted laying off employees. Retention tax credits provided under the CARES Act helped. But nonprofits that are still struggling may think they have no choice but to cut compensation expenses, especially as high inflation increases the cost of other expenses. However, your […]
How inflation could affect your financial statements
June 14, 2022Business owners and investors are understandably concerned about skyrocketing inflation. Over the last year, consumer prices have increased 8.3%, according to the latest data from the U.S. Bureau of Labor Statistics. The Consumer Price Index (CPI) covers the prices of food, clothing, shelter, fuels, transportation, doctors’ and dentists’ services, drugs, and other goods and services […]
Recent Posts
- Last call for lease accounting!
- Reviewing — and possibly revising — your nonprofit’s spending policy
- Oversight and controls are key to limiting fraud in nonprofits
- How to cut costs instead of your nonprofit’s staff
- How inflation could affect your financial statements
- Matching gifts make donations twice as sweet
- Nonprofits: Tips for getting the grant
- Goodwill in a bad economy
- Is your nonprofit on track? Ask your clients
- Do you know the signs of financial distress in a business?