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- 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: nonprofit
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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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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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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Getting Your Organization Ready for Remote Auditing
Every year, the accounting profession takes another evolutionary step to meet the changing demands of our technologically advancing world. The current health crisis has highlighted the importance of up-to-date technology to help perform work efficiently and effectively from any location. … read more
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Tagged Arizona, CPA, government, nonprofit, NPO, Patrick Copeland, remote auditing, remote working, technology
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