- Wildfire and Disaster Funding Opportunities for Arizona Cities and Towns
- Preparing for the Future of Single Audits: Navigating the Latest AICPA Guidance
- Common Audit Requests for Selections and the ADM 15
- Documenting Board Approval for Payroll Contracts
- Travel Reimbursements – Tips for Uncommon Scenarios
- Why Segregation of Duties Matters in an IT Environment
- Don’t Hold Your Breath: Why Water and Wastewater Rates in Arizona Aren’t Falling Anytime Soon
- Do Your Due Diligence!
- What Happens When Cash Isn’t Reconciled
- Adjacent Ways Projects: Capitalize or Expense?
Author Archives: Diane Bradley
Will I Still Be Helping Others in the Future (or Do I Have a Going Concern)?
Many people view going concern disclosures as a death sentence and last resort for their organization’s annual financial statements. These disclosures are daunting and appear extreme but are relevant and potentially necessary given the recent COVID-19 stay-at-home orders and economic … read more
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Tagged accounting, COVD-19, CPA, FASB, financial report, going concern, Jared Young, nonprofit, NPO
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What Impact Will the Pandemic Have on Audits?
In today’s new “normal” during the Coronavirus pandemic, there are many uncertainties, and audits are no exception. While there are several unknowns, one thing is certain – your audit will certainly occur, and there will likely be no relief in … read more
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Tagged audits, coronavirus, COVID-19, Federal program, government, internal control, Katherine Shell, nonprofit, NPO, pandemic, reporting, Single Audt
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Accounting for PPP Loan Proceeds at Fiscal Year End
The Payroll Protection Program (PPP) was put into law in April 2020, and many nonprofit organizations applied for loan proceeds to obtain relief and resources for payroll and certain other expenses due to COVID-19. Hopefully, you have set up a … read more
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Tagged accounting, financial report, fiscal year, nonprofit, NPO, Payroll Protection Program, PPP, SBA loan
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What to Know About the Change in the Classification of Agency Funds (Student Activities Funds)
A few years ago, the Governmental Accounting Standards Board (GASB) issued Statement No. 84, Fiduciary Activities. The statement established criteria for identifying fiduciary activities, with a focus on control of the assets and beneficiaries of the activities; additionally, the statement … read more
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Tagged agency funds, Arizona, Chris Heinfeld, Christopher Heinfeld, financial reporting, GASB, government, school district, special revenue funds, student activities, USFR
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Governmental Financial Reporting and COVID-19
There are a multitude of ways that a global pandemic can affect financial reporting, and the unique nature of governmental organizations (which are intertwined with most facets of our local and regional communities) can further compound and complicate the impacts. … read more
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Tagged 2020, AFR, CAFR, changes, COVID-19, financial statement, GASB, government, impact
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COVID-19 Effects on NFP Financial Statements and Disclosures
Whether you were in the middle of your annual audit when COVID-19 started making waves or will soon be embarking on your next audit, you can expect that there will an impact on your financial statements and disclosures. Here is … read more
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Tagged audit, coronavirus, COVID-19, disclosures, FASB, financial statements, NFP, nonprofit, NPO
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