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    NFP Entities Joint Cost Allocation

    Report Over the past few years, some of the largest charity raters in the United States have taken the position that they will disregard joint costs as program expense and will include those costs as 100% fundraising expense when calculating ratings for NFP entities. However, FASB Accounting Standards Codification (FASB ASC)
    Published on August 04, 2014

    NFP Entity Financial Reporting Issues Gifts Involving Conservation Easements

    Report At times, some of the complexity of preparing NFP financial statements relates to the authoritative accounting literature not including specific guidance as to how certain transactions need to be reflected in the financial statements
    Published on August 03, 2014

    SFAS No. 164 M&A Activities for NFP Organizations

    Report In May 2009 [with an April 2009 issue date on the document], the FASB issued SFAS No. 164, entitled Not-for-Profit Entities:  Mergers and Acquisitions.  The FASB objective in issuing SFAS No. 164 is to improve financial reporting by NFP organizations when they are involved in combinations with one or more
    Published on August 03, 2014

    Not-For-Profit Entities Time to Implement New Accounting Literature

    Report In 2010, NFP entities need to address new authoritative accounting technical literature that changes the landscape related to how both mergers and acquisitions need to be reflected in financial statements, and how intangible assets need to be handled in those statements
    Published on August 03, 2014

    ASU 2014-08 FASB ASC 205 and 360 Reporting Discontinued Operations

    Report FASB issued ASU 2014-08, which amends the guidance in FASB ASC 205 to change the definition of discontinued operations and the criteria for reporting discontinued operations and requires expanded disclosures about discontinued operations.
    Published on August 04, 2014

    Financial Reporting Alert Not-for-Profit Entities

    Report The AICPA has released its 2011 alert for not-for-profit [NFP] entities that provides valuable guidance related to current-year financial reporting.
    Published on August 03, 2014

    New Technical Practice Aid Guidance Not-for-Profit Entities

    Report In June 2010, the AICPA released some Technical Practice Aid [TPA] guidance that addresses accounting and reporting issues frequently-encountered by NFP entities.
    Published on August 03, 2014

    FASB ASC 805 Combinations of Entities Under Common Control

    Report FASB ASC 805 is applicable in accounting and reporting for transactions that represent business combinations to be accounted for using the acquisition method.
    Published on August 03, 2014

    Not-For-Profit Entities Exchange Transactions vs. Contributions

    Report Often, not-for-profit [NFP] entities generate revenue from exchange transactions and from contributions and, at times, it appears that the line is blurred related to the appropriate accounting for the revenue stream.
    Published on August 03, 2014

    NFP Entity Financial Reporting Issues Fair Value Measurements and Disclosures

    Report Issues with fair value measurements and related disclosures are certainly not isolated to not-for-profit [NFP] entities. However, these issues can be more prevalent for NFP entities.
    Published on August 03, 2014

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