He has taught both new users as well as other CPAs, who are themselves considered experts in the software.
In total, Gregg has taught over seminars to more than 35, students. Presently, Gregg is teaching a live seminar designed exclusively for nonprofit organizations around the country. To get a feel for what Gregg is all about, join him for his free webinar with Insightful Accountant on May 2 about handling donations for nonprofits in QuickBooks.
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Rafanan rated it liked it Feb 21, Rebecca Himberger rated it it was amazing Jul 18, Martina rated it it was ok Oct 05, Carter rated it liked it Dec 30, James T. Gardner, Ph. Will you have a chance to catch your breath soon? This article covers key aspects of the standard that nonprofits need to be aware of.
ISBN 13: 9780471789796
It is effective for annual financial statements issued for fiscal years beginning after December 15, and for interim periods within fiscal years beginning after December 15, This article offers tips that can make the work easier. Not-for-Profit Financial Assets: Available ASU requires NFPs to provide qualitative and quantitative information about financial assets available to meet general expenditures within one year of the date of the statement of financial position. It may not sound so hard at first glance, but many nonprofits have assets that aren't cut-and-dry when it comes to designating them as available or not available within this context.
Functional Expense Schedule Best Practices for Not-for-Profits Here are some best practices for nonprofits to keep in mind as they prepare functional expense schedules. Top 7 Functional Expense Allocation Errors While preparing a statement of functional expenses involves some challenging areas and professional judgment, keeping common pitfalls in mind as you go through the process should allow for an easier path to success.
Accordingly, NFPs may want to revisit endowment policies and strategies, as well as explore opportunities for efficiency and transparency in connection with their implementation of the new standard. Demystifying the New Liquidity Disclosures Upon implementation of ASU , NFPs are required to provide qualitative and quantitative information about how they manage their liquid resources.
The information will look different for each entity, depending on its own facts and circumstances. This article discusses some of the nuances NFPs are navigating in providing the new liquidity disclosures. The example is fictitious.
These illustrative financial statements provide a non-authoritative example of a possible presentation of a complete set of financial statements for a small, nongovernmental NFP that is not a health care provider under current GAAP. It is being published to accompany the following cash flow matrix tool designed to aid in the preparation of a statement of cash flows for a small, relatively simple not-for-profit entity.
These fictitious examples are intended to help organizations consider how they want to craft their liquidity disclosures to enhance transparency and best tell their stories.
This article discusses key considerations that prompt proactive steps toward creating effective disclosuresthat comply with the new requirements.