Featured Articles

Benjamin Takis
Oct 15, 2020

Weathering the storm of major financial disruptions is a challenge for all organizations. Unfortunately, not all nonprofits will be successful, and inevitably some will have to shut their doors and dissolve. It is important to be aware that dissolution is a complex process that requires careful planning.

Shawn H. Miller, CPA, CFE
Oct 1, 2020

What is GAAP?

GAAP is an acronym for Generally Accepted Accounting Principles. These principles constitute preferred accounting treatment.

GAAP includes definitions of accounting concepts and principles, as well as industry-specific rules. The main purpose of GAAP is to ensure that financial reporting is transparent and consistent from one organization to another. 

Who sets GAAP?

Currently, the GAAP policies are set primarily by three entities:

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