Accounting and Reporting
Updates on FASB’s Lease’s Standard and How to Implement It
Introduction The FASB issued Accounting Standards Update (ASU) No. 2016-02, Topic 842, on February 25, 2016. The update on FASB…
New Statements on Auditing Standards and How It Affects Nonprofit Audit Reports
Auditing standards do not generally affect an organization when it comes to daily operations. However, it is important for nonprofit…
Allocation of Functional Expenses (A Nonprofit’s Guide)
Nonprofit entities differ from for-profit companies because they must focus on accountability, rather than profitability. With accountability comes regulations about…
Invoicing Tips for Nonprofit Organization
What Is An Invoice? Invoices are essential to all businesses, including nonprofit organizations, because they coordinate payment collection. An invoice…
Payroll Management: What It Is and the Benefits of Using It In Your Nonprofit Organization
Staff members must get compensated for the time they spend contributing to the organization, payroll management describes the process that…
Basics and Best Practices of Nonprofit Accounting
Most for-profit companies are set up with one thing in mind: profit. Nonprofits are different. A nonprofit organization is built…
Leveraging Cloud Accounting Software for Arts, Culture & Humanities Nonprofits
Nonprofit organizations must run their businesses with more in mind than technology and the bottom line. Every decision made at…
Why Nonprofits Use Fund Accounting
Nonprofit organizations are different from for-profit entities in many ways. One significant difference is that they don’t have shareholders. For-profit…
8 Reasons Why Your Church Will Benefit With Outsourced Accounting Services
What are Church Accounting Services? The documentation of transactions and the planning for future transactions make up the church accounting…
Follow These Steps to Prepare for a Nonprofit Accounting Audit
What Is An Audit? What Is Its Purpose? A nonprofit accounting audit is a thorough examination of an organization’s financial…
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