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Tag Archives: financial statement
Why Audits Are Important
Oh no, did the IRS or a governing body send you a letter saying you need an audit and now you don’t know what to do? An audit is stereotypically required because an entity did something wrong and the IRS … read more
Posted in Articles
Tagged ADE, Arizona, audit, Bryan Ruprecht, compliance, financial statement, GASB, goverment, school district
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Useful Ratios for Liquidity Analysis for Nonprofits
Liquidity ratios are useful tools that can be used to assess a nonprofit organization’s ability to cover its short-term financial obligations and to analyze its financial situation. Liquidity is the ability to convert assets to cash in a very short … read more
Posted in Articles
Tagged assets, Eric Taylor, financial statement, fixed assets, liabilities, liquidity ratio, nonprofit, NPO
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New Financial Statement Governmental Fund Presentation for School District Clients
During this past year, our firm re-evaluated how the financial statements are compiled and decided to make a major change to how funds will be presented. In the past, all individual funds were presented (i.e. Title I Grants, Special Education … read more
Posted in Articles
Tagged accounting, ACFR, Arizona, Cristina Oropeza, financial statement, govermental fund, school district
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GASB 42 Revisited
As accountants, auditors and consultants, we find ourselves living in a world that seems to change faster than we might be comfortable with. Normally, we focus on the changes that are on the horizon so that we may educate ourselves … read more
Posted in Articles
Tagged Arizona, asset impairment, capital assets, CPA firm, financial statement, GASB, government, Jennifer Shields, school district
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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
Posted in Articles
Tagged accounting, audit, audit report, auditor, Brittney Williams, CAFR, financial statement, GASB, government, independence, school district
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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
Posted in Articles
Tagged 2020, AFR, CAFR, changes, COVID-19, financial statement, GASB, government, impact
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The Do’s and Don’ts of Reviewing School District Financial Statements
by Sara Kirk, CPA, CFE, Consulting Manager
Posted in Videos
Tagged accounting, annual report, Arizona, CAFR, financial statement, GASB, presentation, Sara Kirk, school district, video
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