Nonprofit Accounting Basics

Audit

5 Steps to Make an Audit Easier

Originally Posted: February 28, 2022

Undergoing an audit, or any type of engagement, is a cumbersome process.

Auditor’s Reports Will Soon Look Different

Originally Posted: November 11, 2021

Auditor’s reports will look different for audits of financial statements for periods ending on or after December 15, 2020.

Availability and Liquidity Disclosure

Originally Posted: July 5, 2022

With the existing Liquidity and Availability disclosures required for non-profit organizations, there is certain qualitative and quantitative information that should be disclosed.

Post-Fieldwork Considerations for Audits

Originally Posted: March 22, 2012

There are essentially three stages to every audit – planning/pre-fieldwork, fieldwork, and post-fieldwork/wrap-up.

Presentation and Disclosure Requirements in ASU 2020-07 for Gifts-in-Kind

Originally Posted: December 30, 2021

The Financial Accounting Standards Board (FASB) has issued an accounting standards update ASU No.

Updated Management Responsibilities Under SAS 136 (for Retirement Plans)

Originally Posted: July 18, 2022

The implementation of SAS 136 is finally here.

What You Need to Know About the 2022 Compliance Supplement

Originally Posted: October 3, 2022

All non-federal government agencies and nonprofit organizations that expend $750,000 or more in direct federal awards and federal awards passed through state agencies in a given fiscal year are req

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