December 18, 2018
In August of 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2016-14 Not-for-Profit Entities (Topic 958). This is applicable to most non-profit organizations. This standard makes some significant changes to current practice and is effective for fiscal years beginning after December 15, 2017.
How does this affect my organization?
Well, in short, it means that this standard will need to be applied for your calendar 2018 financial statements. There are several provisions in the standard, but here are the main things you need to know:
In a nutshell, you probably won’t need to change a lot of your daily processes, but the way certain information is reported will need to be updated. Here’s a link to the Reimer, McGuinness & Associates presentation discussing this new standard in more detail. Also, here is an implementation guide from the AICPA. If you would like further particulars on the new standard, please contact Max Dunlap email@example.com Bree Brown firstname.lastname@example.org or Gaurav Masand email@example.com, and we will be happy to discuss it with you!
Once your taxes have been filed, first, take a moment to breathe a big sigh of relief…and then enjoy some Tax Day (April 15, 2019) discounts. There’s nothing like a good deal to take the sting out of tax obligations. Below, we’ve compiled a short list of best food and drink deals, taken from offer.com.
The long stretch from the end of the winter holiday season until the next break in your routine can feel like eternity. If you feel the need to reboot your enthusiasm as the spring season arrives, try these tips:
Our most precious commodity is time—and our attention is a close second. That’s why everyone can use some help on how to tune out daily distractions. We compiled the following helpful tips from copyblogger.com to get you started on dialing down distractions: