Contact Us Follow Us :       | Find Us |
CBIZ & MHM New England

Subscribe to Our Blog

Client Satisfaction Survey Results

ClientSatisfaction_new

Follow Us

2019 Not-For-Profit Accounting Preview
Posted by Mark Winiarski on Thu, Jan 31, 2019 @ 02:08 PM

Even though the pace of new standard setting has appeared to have slowed, not-for-profit organizations will have no shortage of accounting considerations in the next year. Entities with fiscal year ends will be implementing the changes to their financial statement presentation for the first time, and all organizations will be tackling changes to contribution and revenue recognition accounting. On the horizon are the changes to the leasing standard, which will require analysis of all existing lease agreements. It’s never too early to start working on accounting changes. Getting a jump start on these and other updates may make year-end reporting significantly easier.

Read More

Topics: Mark Winiarski, Financial Statement, not-for-profit

How to Prepare for a Successful Implementation of the New Not-For-Profit Reporting Standards
Posted by Michelle Sylvia Spriggs on Fri, Jan 25, 2019 @ 08:35 AM

Now is the time for not-for-profit organizations to begin implementing the new changes to their financial statements. Changes issued under the Financial Accounting Standards Board (FASB) Accounting Standards Update 2016-14, Presentation of Financial Statements of Not-for-Profit Entities is effective for calendar year-end entities in 2018, and fiscal year-end entities in 2019.

Read More

Topics: not-for-profit, NFP, Michelle Spriggs, nonprofit, Financial Statement, Not-for-profit financial statement

Lingering TCJA Tax Considerations for Not-For-Profits
Posted by Amy O’Loughlin on Thu, Jan 24, 2019 @ 04:18 PM

After the first full year under the new tax reform law, one thing is clear: Several tax reform provisions may make tax reporting more difficult for not-for-profit organizations.

The tax law commonly referred to as the Tax Cuts and Jobs Act (TCJA) passed into law quickly, leaving ambiguities about how some of its provisions would be implemented. Not-for-profits received some more clarity at the end of 2018 around how to apply some of the TCJA’s changes, but little in the way of relief. Most organizations should still expect to spend more time with certain segments of tax-related reporting, including quantifying and segmenting their sources of unrelated business income (UBI) and evaluating their qualified transportation fringe benefits.

Read More

Topics: Amy O’Loughlin, Not-for-Profits, nonprofit, TCJA, Tax Cuts and Jobs Act, Tax Reform, Tax Reform Act, unrelated business income (UBI), UBI

Popular Posts

Browse by Tag

see all