NFP Entities Joint Cost Allocation
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 July 16, 2014
NFP Entity Financial Reporting Issues Gifts Involving Conservation Easements
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 November 20, 2013
SFAS No. 164 M&A Activities for NFP Organizations
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 June 10, 2009
Not-For-Profit Entities Time to Implement New Accounting Literature
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 November 24, 2010
ASU 2014-08 FASB ASC 205 and 360 Reporting Discontinued Operations
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 April 16, 2014
New Technical Practice Aid Guidance Not-for-Profit Entities
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 July 21, 2010
Financial Reporting Alert Not-for-Profit Entities
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 July 06, 2011
FASB ASC 805 Combinations of Entities Under Common Control
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 March 27, 2013
Not-For-Profit Entities Exchange Transactions vs. Contributions
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 July 03, 2013
NFP Entity Financial Reporting Issues Fair Value Measurements and Disclosures
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 November 20, 2013