Nonprofit Accounting Basics

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Financial Management: Introduction

Whether your organization is large or small, effective financial management is an ongoing process featuring a cycle of good management habits. Sound procedures and internal controls help ensure accurate accounting and high-quality reporting. Evaluation of the information in the reports then facilitates good management decisions and informs both near- and long-term planning. Regular evaluation of the process leads to consistent improvement in financial management.

Covering Audits and Investments

Depending on many factors including the size of the board, the size of the budget, and the magnitude and complexity of existing financial assets, the finance committee may be called upon to perform the roles of two other committees that are usually separate in larger organizations: the audit committee and the investment committee. The basic audit and investment committees’ responsibilities include:

Audit Committee

Internal Controls and Accountability, Transparency, and Risk Management

Finance Committee responsibities with regard to Internal Controls and Accountability, Transparency, and Risk Management include:

Budgeting and Financial Planning

The Finance Committee responsibilities for budgets and financial planning include:

Per Diem vs. Accountable Plans: Determining the Best Approach

Originally Posted: March 22, 2023

One of the most frustrating internal control processes for accountants and auditors alike is the dreaded company credit card and employee expense reimbursements.  You might be thinking, let’s

Security Act 2.0: What you need to know

Originally Posted: March 8, 2023

On December 29, 2022, President Biden signed the Consolidated Appropriations Act, 2023, which includes the provisions of the Securing a Strong Retirement Act, commonly called SECURE 2.0.

Kristin A. Jacquelin, CPA

Calibre CPA Group PLLC

Patricia A. O'Malley, CPA

Sole Proprietor

Kari Bedell

Greater Washington Society of CPAs

PPC's Guide to Audits of Nonprofit Organizations

The guide includes all of the guidance and practice aids you need to help you perform your nonprofit organization audits, compilations, reviews, and Single Audits efficiently while still meeting professional standards. It also includes numerous sample reports. The guide is updated annually.

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