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Will Paycheck Protection Program Loans Be Subject to Uniform Guidance for Nonprofit Organizations?

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) includes many provisions that are applicable to nonprofit organizations.  One of the provisions is the Paycheck Protection Loans (PPL) which provides 100% Federally guaranteed loans to covered entities who meet certain criteria. A consideration for nonprofit organizations is whether the loans will be subject to […]

AAFCPAs’ Hui-Ting Grady, CPA, MBA Earns Advanced Single Audit Certificate

AAFCPAs Assurance Manager Hui-Ting Grady, CPA, MBA is now among an elite group of CPAs in the country who have earned the Advanced Single Audit Certificate from the American Institute of CPAs (AICPA)’s Governmental Audit Quality Center. This advance level certificate is designed for auditors with seven or more years of experience in performing and […]

AICPA Issues SAS No. 134 to Enhance Communicative Value of Auditors’ Reports

AAFCPAs would like to make our privately-held commercial clients and nonprofits aware that on May 08, the AICPA Auditing Standards Board (ASB) issued Statement on Auditing Standards (SAS) No. 134, designed to enhance the communicative value of the auditor’s report and align generally accepted auditing standards (GAAS) with the standards issued by the International Auditing […]

AAFCPAs Nonprofit Revenue Recognition Guidance Webinar Available OnDemand

AAFCPAs Nonprofit Revenue Recognition Guidance Webinar Available OnDemand

AAFCPAs’ Matt Hutt, CPA, CGMA, Courtney McFarland, CPA, MSA and Emily Donnelly, CPA provide nonprofit finance executives with an understanding of how the new standards could impact revenue recognition and company policies, and what they should be doing now to prepare for adoption. This webinar was presented and recorded live, May 23rd, 2018 in AAFCPAs’ recording studio in […]

Webinar: AAFCPAs Revenue Recognition Guidance for Nonprofits

Webinar: AAFCPAs Revenue Recognition Guidance for Nonprofits

Join AAFCPAs on Wednesday, May 23rd from 12-1pm for a live, 1-hour revenue recognition implementation webinar! AAFCPAs’ Matt Hutt, CPA, CGMA, Courtney McFarland, CPA, MSA and Emily Donnelly, CPA will provide nonprofit finance executives with an understanding of how the new standards could impact revenue recognition and company policies, and what they should be doing now to prepare for […]

SAVE THE DATE: AAFCPAs to Share Valuable Revenue Recognition Guidance for Nonprofits

SAVE THE DATE: AAFCPAs to Share Valuable Revenue Recognition Guidance for Nonprofits

AAFCPAs will present two educational webinars, providing an overview of new Revenue Recognition standards for Commercial Businesses and Nonprofit Organizations. Attendees will gain an understanding of how the new standards could impact revenue recognition and company policies, and what they should be doing now to prepare for adoption. SAVE THE DATE! AAFCPAs Educational Webinar: Revenue […]

OMB Further Extends the Effective Date for the Procurement Standards of the Uniform Guidance

AAFCPAs would like to make clients aware that on May 17, 2017, the U.S. Office of Management and Budget (OMB) issued a correcting amendment extending the effective/applicability date of the procurement standards under the Uniform Guidance (UG). The procurement standards were one of the areas of significant change under the UG, and nonprofits receiving federal […]

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: [well type=””]AAFCPAs has provided a detailed Whitepaper providing guidance on the FASB’s new Lease standard so clients may […]

Biggest Improvement of Financial Reporting Guidance in Two Decades for Not-for-Profit Entities

On August 18, 2016, the FASB issued a final ASU 2016-14, Not-for-Profit Entities (Topic 958), Presentation of Financial Statements of Not-for-Profit Entities, to improve financial reporting guidance for not-for-profit entities (NFPs).  The existing financial reporting guidance was established in 1993 when the FASB issued the Statement of Financial Accounting Standards (AFAS) No. 117, Financial Statements […]