Nonprofit Accounting Basics

Financial Statements and Reporting

Accounting for Uncertain Tax Positions: A Requirement for Nonprofit Financial Statements

Originally Posted: December 28, 2010

FIN 48, Accounting for Uncertain Tax Positions (now codified as ASC 740-10) was made a requirement for any entity with financial statements prepared in accordance with generally accepted acc

Common Disclosures

Originally Posted: December 3, 2010

Some of the most common disclosures are:

FAS 116

Originally Posted: December 8, 2009

What is FASB 116?

Statement of Financial Account Standards 116 (FASB116) is the primary guidance relating to the recording of contribution revenue by not-for-profit organizations (NFPs).

Have You Outgrown Your Financial Reporting System?

Originally Posted: July 12, 2017

As your organization grows and becomes more sophisticated, your financial reporting needs to evolve as well.

Investments: Fair Value Disclosures

Originally Posted: February 4, 2013

A common item on the financial statements of not-for-profit organizations (NPOs) is investments. These investments can often be the largest single line item on the financial statements.

New Financial Reporting Standards for Nonprofits

Originally Posted: December 13, 2016

The Financial Accounting Standards Board (FASB) has issued Accounting Standard Update (ASU) 2016-14.  This ASU is intended to update, not overhaul, the current financial statement model to imp

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