Accounting and Reporting

The Essential Types of Financial Reports for Nonprofits
Creating accurate financial reports for nonprofits is essential to the integrity and success of an organization. With these reports, nonprofits…
What Is a Statement of Functional Expenses? A Quick Overview for Nonprofits
Communicating a clear mission and purpose to all stakeholders — including donors, volunteers, and the community you serve — can…
Understanding 2 CFR 200: A Comprehensive Guide to Procurement for Nonprofits
Is your procurement process in compliance with 2 CFR 200? 2 CFR 200 outlines regulations that nonprofits must follow throughout…
Understanding Financial Reviews for Nonprofit Organizations: A Comprehensive Guide
Nonprofit organizations play a vital role in society, focusing on a variety of causes and initiatives aimed at creating positive…
Understanding Cost Allocation Methods: A Comprehensive Guide for Nonprofit Leaders
The financial health of a nonprofit organization is often seen as a barometer of its capacity to deliver on its…
Nonprofit Accounting Basics: Understanding Accounts Payable Cycle
The accounts payable (AP) cycle is the process of tracking and paying bills for goods and services that a nonprofit…
Nonprofit Balance Sheet (or Statement of Financial Position)
Nonprofit organizations do not have the same financial reporting requirements as for-profit businesses. Since nonprofits operate for the purpose of…
ASU 2014-09: A Summary of Revenue Recognition for Not-for-Profit Organizations
The Financial Accounting Standards Board (FASB) is the agency in charge of monitoring, revising, and enforcing accounting practices in the…
What Is Earned Revenue In Accounting?
One of the most frequent requests we hear from clients looking for financial services is to be sure they are…
Bank Reconciliation Statement: What It Is & Why It’s Important
Having an effective accounting process in your nonprofit organization allows nonprofits to stay transparent and accountable. Keeping track of daily…
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