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- Do Your Due Diligence!
- What Happens When Cash Isn’t Reconciled
- Adjacent Ways Projects: Capitalize or Expense?
Tag Archives: accounting
Changes to the 1099 Form for 2020
I think we can all agree we are ready for 2020 to come to an end! With calendar year end brings certain tax-related filings. Most entities will be filing W2s to report their employees’ wages and taxes and 1099s for … read more
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Tagged 1099, 1099-NEC, accounting, changes, compensation, form, government, independent contractors, Karin Smith, nonprofit, payments, taxes
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Understanding the New Independence Rules Related to Financial Statement Preparation
(originally published on April 15, 2020) Have you heard of the new Yellow Book or Government Auditing Standards issued by the Governmental Accountability Office? If not, that’s OK – this article aims to provide you with some critical information to … read more
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Tagged accounting, audit, audit report, auditor, Brittney Williams, CAFR, financial statement, GASB, government, independence, school district
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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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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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Updating Internal Controls for a Remote Environment
A nonprofit organization (NPO) has a responsibility to its donors and other stakeholders to keep a strong internal control structure to help prevent and detect fraud. In the ever changing world we are in, it can become increasingly hard to … read more
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Tagged accounting, COSO, internal controls, management, nonprofit, NPO, remote working
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