The New England Accounting Advisor

A diversity of practices exist when it comes to accounting for fundraising costs. Since this is an area that is likely to receive increased attention by the IRS in the coming years, we advise not-for-profit organizations to review their approach and ensure proper fundraising cost reporting is taking place. 

Topics: GAAP, Dyan Reinhold, non-for-profit, Non-profits

Not-for-Profits Often More Vulnerable than For-Profits

Author: Carl F. Jenkins, CPA/ABV, CFE

Topics: fraud, Carl F. Jenkins, employee fraud, non-for-profit, Non-profits

Topics Included Tax, Accounting, and Business Consulting Advice

This year, The New England Accounting Advisor covered many topics, including tax advice, accounting issues, fraud and advisement for both for-profit and not-for-profit entities. At the end of the year, there were 10 blog posts that claimed the biggest readership.

Topics: COSO, Kristen Shepley, tax planning, tax, non-for-profit, IRS, compliance, year-end review

Do they Get Classified as Operating Cash Flows or Financing Cash Flows?

Topics: David Brown, non-for-profit, FASB, donated securities, EITF

Be proactive, but very careful

Author: Joe Giso

Topics: lobbying, advocacy, politicking, tax-exempt, non-for-profit, Joe Giso, compliance

Supplement is Critical to Performing Single Audits

Author: Dyan Reinhold, CPA

Topics: Dyan Reinhold, tax-exempt, non-for-profit, audit, compliance, OMB, A-133, single audit

Make Sure Your Not-For-Profit is Aware of the Benefits of Cause Marketing, as Well as Its Pitfalls

Topics: non-for-profit, Joe Giso, fundraising, Cause marketing, cause related marketing, co-venture

Exploring Financial Statement Presentation Standards to Improve Communications with Stakeholders

Topics: tax-exempt, non-for-profit, audit, financial reporting, Patrick Quinn

Author: Dyan Reinhold

5 Key Changes – and a Checklist for Pinpointing Problem Areas

While it’s true that this year there have only been modest changes to accounting standards it’s still important to make sure that your financial statements are clear and thorough. However, there are still five key changes you’ll need to address.

Topics: non-for-profit, Endowment Disclosures, Uncertain Income Tax Positions, Derivatives, Fair Value

Assuring Good Governance

A decade ago most in business thought the Sarbanes-Oxley Act of 2002 (SOX) would barely impact not-for-profit organizations beyond whistleblower and record-retention policies. Audit committees at the time were typically formalities that existed primarily to interact with the outside auditor, not to help guide the business on a strategic level.

Topics: COSO, non-for-profit, audit, Audit Committee