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Key Highlights of the Uniform Guidance Update for Nonprofits Receiving Federal Funds

Nonprofits that receive federal funds need to comply with the stringent requirements associated with government funding.
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What Do Sureties Look At When They Review A Contractor’s Financial Statements?

The construction industry is diverse, with construction businesses specializing in HVAC, plumbing, electrical, excavation, fire protection, general contracting and other trades. One thing most contractors have in common, though, is who uses their...
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What Nonprofits Need to Know About Functional Expenses

The issuance and implementation of the FASB nonprofit financial presentation standard, Accounting Standards Update (ASU) 2016-14, back in 2016 resulted in changes to the presentation of GAAP-based financial statements for nonprofits. These changes were...
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How Does the New CECL Model Affect Your Financial Statements?

Non-public entities will need to adopt the new Current Expected Credit Loss (CECL) model starting with 2023 calendar year-end financial statements. What does this mean for your company and your financial statements?
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What Your Nonprofit’s Financial Statements Reveal [Video]

The numbers on your nonprofit’s financial statements tell a colorful story ― if you know what to look for. Nonprofit CEOs, executive directors and board members who have a solid understanding of financial statements typically make better decisions for...
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How Too Much Trust Can Erode Internal Controls

There’s a fine line regarding trust in a workplace environment. Too little trust in employees can diminish effective communication, increase conflict and decrease loyalty. But on the flip side, too much trust could create an opportunity for a key...
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