Nonprofit Accounting Basics

Audit

5 Steps to Make an Audit Easier

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

Auditor’s Reports Will Soon Look Different

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

Availability and Liquidity Disclosure

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

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

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

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