- 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?
- Excel Made Easy – VLOOKUP and XLOOKUP
- Physical Inventory Considerations
- I Submitted a December Budget Revision, Now What?
Tag Archives: capital assets
Adjacent Ways Projects: Capitalize or Expense?
Over the past year, we’ve been keeping an eye on common issues our school district clients are running into, and one question continues to come up: Should Adjacent Ways projects be capitalized and depreciated, or expensed as normal operating costs? … read more
Posted in Articles
Tagged accounting, adjacent ways, Alex Manriquez, Arizona, capital assets, government, school districts
Comments Off on Adjacent Ways Projects: Capitalize or Expense?
Sarah Jacobs, CPA, SFO, MBA
Areas of Expertise: GAAP Accounting Principles Arizona Uniform System of Financial Records for School Districts School ERP Pro, powered by Infinite Visions Arizona School District Chart of Accounts Arizona County Superintendent Cash Reconciliations Arizona School District Bank Reconciliations Arizona School … read more
Posted in Profiles
Tagged accounting, auditor, capital assets, consultant, consulting, CPA, CPA firm, goverment, inventory, nonprofit, NPO, Sarah Jacobs, school district, Scottsdale, SFO, USFR
Comments Off on Sarah Jacobs, CPA, SFO, MBA
Property Control and Tagging Item Concerns for USFR Compliance
The USFR Compliance Questionnaire requires Arizona school districts to appropriately tag stewardship and capital asset items that should then correspond to a district’s stewardship or capital asset listing. The sample size for this requirement has increased over the past few … read more
Posted in Articles
Tagged Arizona school districts, audit, capital assets, compliance questionnaire, internal control, inventory, stewardship, tagging, USFR
Comments Off on Property Control and Tagging Item Concerns for USFR Compliance
Common Areas that Cause Hang-Ups in Audits and How to Avoid Them
Imagine it is June, your fiscal year is ending and the upcoming audit is peaking its head around the corner. It happens every year, yet it feels like you can never be prepared enough. The key to being prepared is … read more
Posted in Articles
Tagged Arizona, Ashley Avena, audit preparation, capital assets, compensated absences, information technolog, procurement, school district, USFR
Comments Off on Common Areas that Cause Hang-Ups in Audits and How to Avoid Them
Capital Assets Under the Capitalization Threshold – Part II
With the beginning of a new fiscal year, it is always a great time to note what new financial reporting requirements will be effective for the year to proactively plan for any significant changes rather than retroactively attempting to implement … read more
Posted in Articles
Tagged capital assets, capitalization, Christopher Heinfeld, financial statements, GASB, threshold
Comments Off on Capital Assets Under the Capitalization Threshold – Part II
Foundational Information for the Reporting of Assets by School Districts
Capital asset maintenance is an area often overlooked by school districts. Given the amount of background knowledge and manipulation required to ensure that assets are reported correctly, the task can seem intimidating. To successfully begin the process of maintaining asset … read more
Posted in Articles
Tagged account codes, account coding, accounting, Arizona, capital assets, CPA, enterprise resource planning, ERP, financial reporting, Sarah Jacobs, school districts, USFR
Comments Off on Foundational Information for the Reporting of Assets by School Districts
Tips to Have Your Capital Asset Schedules Ready for Your Audit
Capital assets are usually a significant account balance on your financial statements. That means capital assets are material and your auditors will want to review your capital asset schedules to ensure your financial statements are free from material misstatements. It … read more
Posted in Articles
Tagged accounting, Arizona, assets, audit, capital assets, Cristina Oropeza, government, inventory, nonprofit, school district, Texas
Comments Off on Tips to Have Your Capital Asset Schedules Ready for Your Audit