Accounting and Bookkeeping

Generally accepted accounting principles (GAAP), in Statement of Financial Accounting Standards No.

Many special events, such as dinners, galas, auctions, and walk-a-thons, are organized to raise contributions to support the organization’s activities.

This article illustrates how accounting decisions or judgments can affect taxes - on an organization or on its donors, and vice versa.

While neither charity auctions nor the various rules governing them are new, we receive numerous questions about them and observe many examples of inadequate auction procedures by both large and sm

Factors that may indicate an exchange transaction:

Often it is difficult to distinguish between a contribution and an exchange transaction, the following factors are indicative of an exchan

Non-cash Contributions

In this article, we will take a closer look at ways to improve communication specifically between the accounting and development departments.

In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2014-09

Raffles are gaining popularity for nonprofit fundraising. Often combined with a gala or other big event, raffles are accessible and fun.

On May 28, 2014, the Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB) issued substantially converged final standards on revenue recognition.

The following are the entries necessary for cost-reimbursable government grant (assuming the grant is determined to be an exchange transaction):