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AAFCPAs Recommends MA Charter Schools Revisit Their Credit Card Policies for Clarity in Light of New DESE Standards

The Massachusetts Department of Elementary and Secondary Education (DESE) Office of Charter Schools recently announced that, effective in fiscal year 2018, the Charter School Audit Guide will require auditors to determine if the school operates in accordance with its credit card policy. AAFCPAs recommends, accordingly, that at this time each charter school client review its current credit card policy for clarity, ensure it provides for adequate controls, and that the... continue reading

Ensuring Sustainability Means Nonprofits Need to Act Now

Ensuring Sustainability Means Nonprofits Need to Act Now

MassNonprofit News | Although nonprofits cannot control market forces and potential changes in funding, they can take steps to ensure sustainability and greater capacity by broadening the scope of their financial planning process.  AAFCPAs Jeffrey Cicolini, CPA, CGMA provides actionable insights to help nonprofits ensure long-term sustainability.

GASB Issues New Lease Accounting Standard

In June 2017, the Governmental Accounting Standards Board (GASB) issued Statement No. 87, Leases, which applies to entities following government accounting rules, including AAFCPAs’ clients in the Charter School industry, as well as other quasi-governmental organizations.  This guidance applies to most leases with a term of over 12 months.  These leases will now be recognized on the statement of net position of both the lessee and the lessor at the... continue reading

AAFCPAs to Present Educational Workshop on Strategic Budgeting at MNN Annual Conference

AAFCPAs to Present Educational Workshop on Strategic Budgeting at MNN Annual Conference

AAFCPAs will happily present an educational workshop on Rethinking Your Budget: Leading Your Organization through a More Comprehensive Financial Planning Process at the tenth annual, 2017 Massachusetts Nonprofit Network (MNN) Conference in Framingham, MA on November 1st. This is an exciting, must-attend conference for nonprofit executives, board members and advocates. It provides exceptional professional development and networking for over 600 nonprofit professionals and for-profit affiliates from across the state. We... continue reading

AAFCPAs releases 8-part educational podcast series, designed to help nonprofits thrive

AAFCPAs releases 8-part educational podcast series, designed to help nonprofits thrive

AAFCPAs is excited to announce the release of our 8-part educational podcast series offering actionable takeaways for organizations to improve efficiency, effectiveness and performance controls. This collection of podcasts is the 2nd series of recordings from AAFCPAs’ Annual Nonprofit Educational Seminar. These podcasts, and accompanying introductory videos, feature full audio of thought-provoking sessions recorded on May 3rd, 2017 in front of a live audience of 300+ nonprofit executives and board members.  Several... continue reading

Guidance on New Lease Accounting Standard

In 2016, FASB issued Accounting Standards Update (ASU) 2016-02, Leases (Topic 842) to increase transparency and comparability of lease transactions.   AAFCPAs has summarized some of the most significant changes resulting from the new ASU for your convenience: Operating leases will now be recorded in the balance sheet as assets and liabilities if the lease term is greater than 12 months. Prior to this new standard, U.S. GAAP required only capital... continue reading

AAFCPAs Hosts 9th Annual Nonprofit Educational Seminar & Reception

AAFCPAs Hosts 9th Annual  Nonprofit Educational Seminar & Reception

Westborough, Mass. (April 24, 2017) – AAFCPAs, a best-in-class public accounting firm known for assurance, tax and advisory solutions, announced its 9th annual Nonprofit Educational Seminar & Reception. The invite-only event will be held May 3rd at the Newton Marriott, and will host the firm’s clients, friends and colleagues for a day of education and inspiration. This seminar is regarded by Massachusetts nonprofit CFOs, Finance Directors and Executive Directors as... continue reading

AAFCPAs to Present Educational Workshop on Fraud Prevention at National Charter Schools Conference in Washington, DC

AAFCPAs has been selected to present an educational workshop on Safeguarding Your Charter School’s Fiscal Operations at the National Charter Schools Conference Annual Meeting in Washington, D.C. on June 11-14. This is a must-attend conference for charter school teachers, leaders, board members and advocates, providing exceptional professional development programming and networking opportunities for over 4,500 charter school professionals from across the country. Is Fraud Preventable? Safeguard Your Charter School’s Fiscal... continue reading

Form SF-SAC Submission for Single Audits Deadline Extended

The U.S. Office of Management and Budget (OMB) created, but has yet to issue its new data collection form (Form SF-SAC) applicable to single audits performed under Uniform Guidance (UG).  Nonprofits whose audits were performed under the Uniform Guidance are unable to submit the Form SF-SAC and their reporting package to the Federal Audit Clearinghouse (FAC) at this time.  In response to the delay, the OMB has determined that any... continue reading

Josh England, Esq. to Present Nonprofit Legal Seminar on Online Fundraising

AAFCPAs Nonprofit Tax Attorney Josh England will volunteer his efforts and lead Lawyers Clearinghouse’s Legal Workshop for Nonprofits: Online Fundraising:  Is Your Nonprofit in Compliance? Online fundraising is a commonplace feature for many charities; however, many do not realize they are not in compliance with the myriad federal and state fundraising rules and regulations.  Is your nonprofit in compliance with pertinent law, such as Massachusetts data security and fundraising regulations?... continue reading