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As Paycheck Protection Program (PPP) loans run dry, many business owners are wondering what their cash flow will look like in the coming weeks and months. Thankfully, it’s possible to peek into the future to estimate your business’ cash flow.
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GASB 87 will impact you if you’re leasing property as a lessee or lessor. Generally speaking, the statement narrows the existing definition of a lease and modifies how it should be recorded on your financial statement.
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GASB 84 establishes criteria for identifying fiduciary activities. In a nutshell, it narrows the existing definition of a fiduciary fund and clarifies how these funds should be treated in the financial statements.
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Your nonprofit’s financial statement readers are likely to include its major donors, which means what you include or don’t include in your footnote could have significant consequences for your nonprofit. To help you present your numbers in the best light, here are a couple of things you should know.
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Two of the most significant accounting standards changes the industry has seen in years are just around the corner—and are already impacting the way manufacturers do business this year. Known technically as Accounting Standards Codification (ASC) Topic 842 “Leases” and Topic 606 “Revenue from Contracts with Customers,” the new standards affect both leases and revenue recognition.
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To help you better understand how to account for the contributionsparticularly the grant fundsyour nonprofit organization receives, here’s what you should know about conditional contributions
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You may have heard the Financial Accounting Standards Board (FASB) released new accounting standards that amend generally accepted accounting principles (GAAP). Many of these changes need to be implemented by January 1st, 2019.
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For those tasked with audit preparation, the month of December can bring about more than highly choreographed visions of sugarplums. Scrambling at year’s end to prepare for the audittrying to recall activities from months past, sifting through pages of notescan bring about a great deal of added stress.
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In this article, you’ll find a summary of changes and key points to consider when implementing GASB No. 61.
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