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2016 Standard Mileage Rates

The IRS has issued the 2016 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1, 2016, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be: 54 cents per mile for […]

New IRS Employer Reporting Requirements Under ACA

AAFCPAs reminds clients that, pursuant to the Affordable Care Act (ACA), the employer information reporting provision for offers of minimum essential coverage, which applies only to applicable large employers, is now in effect. Do you qualify as an ALE? An applicable large employer (ALE) is, for a particular calendar year, any single employer, or group […]

CFOs Embrace the Cloud for Scalability, Reliability, and Independence

CFOs are more commonly migrating services to the Cloud in order to unlock benefits that can help them free up resources and achieve a new level of scalability. They and their management teams are capturing greater reliability, cost-effectiveness, and security through the right Cloud services. The Cloud used to fall mainly under the jurisdiction of […]

The Required Charter School Management’s Discussion & Analysis (MD&A)

Is Your MD&A Living Up to the Valuable Document It Was Intended to Be? As you close the books on another fiscal year, and begin to prepare for your annual audit, AAFCPAs advises our Charter School clients to take some time now to review the content of your Management’s Discussion and Analysis (MD&A).  In order […]

Navigating Charity Evaluators

How nonprofits can positively impact their rating Communication and transparency are paramount for companies looking to win over advocates in the information age, and the nonprofit sector is no exception. Just as Yelp transformed business reviews and TripAdvisor changed the way the world chooses vacation destinations, evaluation tools are impacting donor perception of charities. The […]

Proposed Nonprofit Financial Statement Format Changes

On April 22, 2015, the 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 Not-for-Profit Entities.  The proposed ASU is intended to improve the financial reporting of not-for-profit entities (NFPs) and to provide more useful information to the donors, creditors, […]

Revised Massachusetts Charter School Audit Guide

AAFCPAs Highlights Changes and Practical Considerations to Ensure Charter Schools Are Well-Prepared for Your Financial Audit by John Buckley, CPA In June of 2014, the Massachusetts Department of Elementary & Secondary Education (DESE) issued its revised Charter School Audit Guide, including significant changes to the financial reporting and audit requirements of charter schools.  This guide […]