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Featured Articles

Lee Klumpp
Jul 30, 2015

Financial reporting issues remain hot topics for those in the nonprofit industry, but one of these issues in particular has historically lacked direction and guidance for for-profit and nonprofit organizations alike: going concern.

To help provide clarity around the issue, the Financial Accounting Standards Board (FASB) recently issued Accounting Standards Update (ASU) No. 2014-15, Presentation of Financial Statements - Going Concern (Subtopic 205-40), Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern.

Matthew F. Johnson, CPA
Jul 14, 2015

The uncertain economy and tempestuous financial markets of recent years have led some nonprofit organizations to turn to alternative investments. While these investments may hold the potential of higher returns, they also come with the risk of unrelated business income tax (UBIT). Even in the absence of tax liability, alternative investments can involve significant filing requirements.

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