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7 Lessons Not-For-Profits Learned From Early Adopting the New Financial Statement Standard
Posted by Michelle Spriggs on Tue, Dec 19, 2017 @ 04:57 PM

Not-for-profit organizations have a year to work on their new financial statement presentation requirements. Changes released in August 2016 affect the financial statement presentation of net asset classification, governing board designation, investment return, underwater endowment funds, capital gifts, expenses, liquidity and operating cash flows. Organizations will need to have the changes ready to go for their 2018 calendar year-end filings (Dec. 31, 2018 or 2019 fiscal year end filings, e.g. June 30, 2019).

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

Frequently Asked Questions About Not-For-Profit Audits
Posted by Joyce Masse Troy on Mon, Oct 23, 2017 @ 04:11 PM

A financial statement audit is bound to produce questions on financial statement reporting, and many are matters that are better addressed before the start of the audit. Questions addressed during the reporting year can save not-for-profit organizations a lot of time during their next audit and could eliminate potential control deficiencies reported as a result of addressing these prior to the audit. The following are among the top questions we routinely hear from our clients.

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Topics: Joyce Masse Troy, not-for-profit, endowment funds, Not-For-Profit Audits, Split-Interest Agreements, financial statement audit, financial statement reporting

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