As part of FASB’s ongoing initiative to improve the effectiveness of the notes to the financial statements, modifications were made to the fair value measurement disclosures. On August 28, 20
Financial accounting is the act of tracking transactions with the goal of providing accurate and timely information about an organization’s financial position and performance. Without account
Medium-sized nonprofit organizations may have the size and volume of activities that call for internal control systems in excess of the resources available to deliver such systems. This situation does not justify inadequate internal controls. It does emphasize the need to constantly evaluate the internal costs to make sure that scarce resources are best applied.
Creating a policy is like making a decision when you have time to be thoughtful, to do adequate research, and to consult colleagues and other professionals rather than making decisions in haste as
