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Tag Archives: financial statements
Form 990 Basics – An Overview of the Required Information
As the Form 990 is required to be available for public inspection, it may be the public’s main source of information that is used to make determinations about your organization. Therefore, it is important that the information presented is kept … read more
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Tagged Arizona, Ashley Avena, financial statements, Form 990, nonprofit, NPO, public disclosure, tax return
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GASB Statement 87, Leases: Common Implementation Questions
There is no time left to procrastinate on preparing to implement GASB Statement 87. If this is your first introduction to the new lease standard, please refer to Christopher Heinfeld’s 2021 article for a basic introduction to the GASB pronouncement. … read more
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Tagged accounting, audit, financial statements, GASB, government, Joshua Jumper, leases, municipality, school district
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GASB Statement No. 87, Leases – The Basics
The time to begin implementing the new standard for leases is here! Hopefully you have stayed informed on the guidance issued, either by reviewing the GASB Statement, attending presentations, and/or reading related implementation guides. However, if you have not, this … read more
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Tagged Christopher Heinfeld, financial statements, gasb 87, government accounting, leases
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GASB Standards Update
The Governmental Accounting Standards Board (GASB) has been, seemingly, busier in recent years researching, deliberating, and issuing a number of standards that will take effect in coming years. While some relief was provided with the passage of GASB Statement No. … read more
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Tagged accounting, Arizona, fiduciary activities, financial statements, GASB, government, leases, Mike Hoerig, pronouncements, Texas
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Auditor Prepared Financial Statements – What Your School District Needs to Know
A few years ago, I recorded a video blog on The Do’s and Dont’s of Reviewing Your School District Audited Financial Statements. This blog reviewed key information that your school district should know in order to perform a thorough and … read more
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Tagged AFR, Arizona, auditor, CAFR, CPA, financial statements, independent, non-attest service, review, Sara Kirk, school district
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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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Understanding the New Independence Rules Related to Financial Statement Preparation
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 be aware of for the upcoming … read more
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Tagged Brittney Williams, financial statements, GAS, government, independence, Single Audit, Yellow Book
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