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Our Blog acts as a great resource of stored topical information for the AAFCPAs finance community. Please share with us your thoughts on hot topics. Remember to use the search function to benefit from our past shared learnings.

AAFCPAs Awards $2,500 Scholarship to Suffolk University Student

AAFCPAs Awards $2,500 Scholarship to Suffolk University Student

AAFCPAs Awards $2,500 Scholarship to Suffolk University Student

In 2018, AAFCPAs again funded a Platinum Scholarship of $2,500, awarded through the Massachusetts Society of CPAs’ (MSCPA) Educational Foundation and MSCPA Scholarship Program. This year’s scholarship was granted to Lesley Ta, an ambitious and passionate graduate of Suffolk University’s Sawyer School of Business. The announcement was made recently during an event honoring educators, CPA exam passers, and scholarship winners hosted by the MSCPA. AAFCPAs’ Director of Business Valuations David Consigli,... continue reading

AAFCPAs to Lead Medicaid Cost Report Training Providing Critical Guidance for June Filing

AAFCPAs’ Matt Hutt, CPA, CGMA and Courtney McFarland, CPA, MSA, in collaboration with the Massachusetts League of Community Health Centers (The League), will present this timely Medicaid Cost Report Training sessions for MA community health centers. Matt and Courtney will be joined by AAFCPAs’ client Mel Benson, CFO of Brockton Neighborhood Health Center.  As a reminder, all CHCs, regardless of Fiscal Year End date, are required to file their fiscal year 2017 cost report... continue reading

It’s a Wrap! See pictures from our 10th Annual Nonprofit Seminar.

AAFCPAs’ 10th annual Nonprofit Educational Seminar and Reception was an extraordinary success, and we were delighted to welcome such a great group, 300+ people! There’s nothing like being in a room full of like-minded peers to inspire creativity, and we look forward to continuing to develop agendas that educate, challenge, and offer clients and friends a chance to connect and collaborate with peers. What is Your Back-to-Work Action Plan? What action... continue reading

The Impact of Revenue Recognition on Healthcare

Revenue Recognition: ASU 2014-09, Revenue from Contracts with Customers (Topic 606), is effective for public business entities, and certain not-for-profit entities that have publicly traded conduit (or direct) debt, with annual reporting periods beginning after December 15, 2017. All other entities are required to adopt this by annual reporting periods beginning after December 15, 2018. Entities may now early adopt. This new standard may result in significant changes to the... continue reading

AAFCPAs’ Business Process & IT Advisory Practice to Present Cyber Security Session to National Jewish Cemetery Association Members

Vassilis Kontoglis, manager in AAFCPAs’ Business Process & IT Advisory practice, will present an educational workshop at the 10th Annual Jewish Cemetery Association of North America (JCANA) Conference scheduled for June 4th – 10th, 2018.  The theme of this year’s Conference is “Bringing Jewish Cemeteries into the 21st Century,” and this includes managing risks associated with a new generation of IT security threats. We have entered a new era of... continue reading

AAFCPAs’ Amanda Pelcher Presents Workshop On Nonprofit Financial Statement Framework for Worcester Community Foundation

AAFCPAs’ Amanda Pelcher, CPA, Manager, is happy to provide insight to the Greater Worcester Community Foundation’s network of nonprofits during a workshop she will give on Understanding the New Nonprofit Financial Statement Presentation Standards, on May 23rd, 2018 in Worcester, MA. Understanding and implementing accounting standards can be complex, time-consuming, and often requires requisite skills and expertise not found on the internal finance team. AAFCPAs provides financial management assistance on complex technical... continue reading

AAFCPAs’ David Consigli Earns Patent Valuation Credential

AAFCPAs’ David Consigli Earns Patent Valuation Credential

AAFCPAs’ Director of Business Valuation Services, David Consigli, Jr., CPA, ABV, CPVA, CDFA has been awarded the Certified Patent Valuation Analyst (CPVA) credential issued by the Business Development Academy (BDA). Dave was awarded the CPVA credential in recognition of his earned expertise in valuation of emerging technologies, negotiating licensing agreements for maximum returns, advanced patent valuation, and calculating damages resulting from patent infringement. In deriving the value of a patent,... continue reading

AAFCPAs Best Practice Recommendations for Complying with DESE, and Managing Board and Management Conflicts of Interests

The Massachusetts Department of Elementary and Secondary Education (DESE) Office of Charter Schools’ Charter School Audit Guide (the Guide) includes compliance requirements relating to the review and assessment of related party disclosures.  Now that DESE has moved to an online management system for the collection of conflict of interest forms from members of a School’s Boards of Trustees, the Guide no longer requires auditors to specifically review these conflict of... continue reading

Net Asset Classification Considerations for Nonprofits Implementing the Financial Statement Presentation Standards

AAFCPAs advises nonprofits in assessing the impact of the new Accounting Standards Update (ASU) No. 2016-14, Not-for-Profit Entities (Topic 958): Presentation of Financial Statements of Not-for-Profit Entities, and we provide guidance throughout the transition process. ASU 2016-14 affects nonprofit organizations in all industries (i.e. healthcare, affordable housing, social services, foundations and education) and is effective for fiscal years beginning after December 15, 2017 (CY 2018 or FY 2019). Net Asset... continue reading

2017 Community Health Center Cost Reports Due June 26, Regardless of Fiscal Year End

AAFCPAs would like to make clients aware that the Center for Health Information and Analysis (CHIA) has just announced it is now collecting cost reports for the fiscal year ending in 2017 from all Community Health Centers (CHCs). All CHCs, regardless of Fiscal Year End date, are required to file their fiscal year 2017 cost report by June 26, 2018. Reporting Requirements In the past, cost reporting requirements have been... continue reading