Accounting and Financial Statements
Technical advice on NFP accounting and reporting rules including recent FASB changes.
Click here to download PDF Over the years there has been a lot of confusion about whether to treat certain types of transactions as contributions or as exchange transactions especially when it involves government grants. There has been further confusion if the transactions include donor-imposed dictates called restrictions or conditions. Many people including accountants don’t […]
Please find an example of calculation UBIT on Net Advertising Income in the pdf in this article.
Find SSCO Sample NFP Financial Statements with notes and auditor’s opinion.
Within the last few years the Financial Accounting Standards Board (FASB), the rrulemaking body that approves all changes to Generally Accepted Accounting Principles (GAAP), has issued several major accounting and reporting revisions that effect evry Not-For-Profit organization in the country. Some of these changes are the most significant Not-For-Profit changes issued since 1994.s
Below is a detailed list of important not for profit accounting terms:
