The Pervasive Impact of Revenue Recognition on Independent Schools
The effective date of Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers has been deferred for all entities by one year; however, AAFCPAs advises that Independent Schools start preparing now to determine how the new Revenue Recognition Standard affects your financial picture, your stakeholders, and the way you do business. How may […]
AAFCPAs’ Update on Decisions Reached in FASB NFP Financial Statements Project
The Financial Accounting Standards Board (FASB) continued its Phase 1 deliberations at its February 3, 2016 Board Meeting on the proposed FASB Accounting Standards Update (ASU), Not-for-Profit Entities (Topic 958) and Health Care Entities (Topic 954): Presentation of Financial Statements of Not-for-Profit Entities. Significant Decisions Made at the Board’s February 2016 Meeting: The proposed ASU […]
Nonprofits and the “Bucket system”: from cash management to investment returns
It can be tempting for nonprofits to focus solely on near-term strategy. The grant environment is challenging, and competition for donor dollars has never been fiercer. Keeping a plan on track that supports financial health is often a year-by-year exercise. That exercise, though, varies widely depending on how the organization brings in revenue. Those that […]
FASB’s Technical Agenda for NFP Financial Statements Project Organized in Two Phases
AAFCPAs would like to make you aware of the two phases that comprise the technical agenda for FASB’s Nonprofit Financial Statement Project. On April 22, 2015, the Financial Accounting Standards Board (FASB) issued a proposed Accounting Standards Update (ASU) entitled Not-for-Profit Entities (Topic 958) and Health Care Entities (Topic 954): Presentation of Financial Statements of […]
The MA Attorney General Launches Online Payment System (ePay) to Accept Fees from Charities
The Massachusetts Office of the Attorney General (AGO), Division of Public Charities office has announced the launch of its statewide, online payment system to accept annual filing fees from registered charities. Any public charity that is registered with the AGO and has an Attorney General Number may now use the ePay site to remit their […]
AAFCPAs’ Update on Decisions Reached in FASB NFP Financial Statements Project
The Financial Accounting Standards Board (FASB) is evaluating 263 comment letters, including feedback from AAFCPAs, as part of their invitation to stakeholders for review and input on the proposed Accounting Standards Update (ASU) entitled Not-for-Profit Entities (Topic 958) and Health Care Entities (Topic 954): Presentation of Financial Statements of Not-for-Profit Entities. As part of its […]
AAFCPAs Adds Depth of Business Valuation Expertise with New Practice Leader
AAFCPAs is pleased to announce the addition of David E. Consigli, Jr., CPA, ABV as Director of Business Valuations. Dave brings over 27 years of business valuation, forensic accounting, litigation consulting, transaction advisory, succession planning, and tax planning experience to AAFCPAs’ diverse clients. He will lead AAFCPAs’ Business Valuation Practice, specializing in performing valuations of […]
AAFCPAs Warns of Several Recent Phone Scams
Some members of our network may be more trusting than others, therefore, we want to take a moment to alert all of you to recent scams that are unfortunately causing frustration to some. Please be aware of the following: National Grid Reminds New England Customers of Payment Scam National Grid electric customers have received telephone […]
AAFCPAs to Present Educational Workshops on Fraud Prevention, Revenue Recognition at National Business Officers Conference in L.A. Benefiting Independent Schools
AAFCPAs has been selected to present complimentary educational workshops on two important topics at the National Business Officers Association’s 2016 Annual Meeting in Los Angeles on February 21-24th. This is a must-attend conference for business officers and other independent school leaders, providing exceptional professional development programming and networking opportunities for over 1,000 independent school professionals […]