Reporting Net Assets In Correct Columns - The NonProfit TimesThe NonProfit Times

Reporting Net Assets In Correct Columns - The NonProfit TimesThe NonProfit Times: "Financial statements of nonprofits display net assets (equity) in three classes: unrestricted, temporarily restricted and permanently restricted. These categories are based on the existence or absence of donor-imposed restrictions and are defined in the accounting standards under FASB ASC 958-210-20."



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FASB Sees Dissent on Nonprofit Accounting Changes | Accounting Today News

FASB Sees Dissent on Nonprofit Accounting Changes | Accounting Today News: "FASB Sees Dissent on Nonprofit Accounting Changes
NORWALK, CONN. (JULY 31, 2015)
BY MICHAEL COHN
The Financial Accounting Standards Board is beginning to hear from not-for-profit organizations and their accountants about the far-reaching changes it has proposed in reporting by nonprofits, and finding there are some disagreements, even among FASB’s own leaders."



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FASB Proposes Major Changes in Nonprofit Accounting | Accounting Today News

FASB Proposes Major Changes in Nonprofit Accounting | Accounting Today News: "The Financial Accounting Standards Board has issued a proposed accounting standards update to improve the information provided in not-for-profit financial statements and notes to financial statements that could have major implications for nonprofit organizations."



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What Is The Watchdog Watching? | The Agitator - Fundraising, Direct Marketing and Advocacy Strategies for Nonprofits

What Is The Watchdog Watching? | The Agitator - Fundraising, Direct Marketing and Advocacy Strategies for Nonprofits: This week the Chronicle of Philanthropy reported that members of the Direct Marketing Association are working on an official protest against the watchdog Charity Navigator.

At issue is Charity Navigator’s decision to challenge a longstanding accounting practice to count some of the money nonprofits spend in the course of fundraising as ‘program costs’ rather than ‘fundraising costs’.

Accounting and Reporting Considerations for Online Contributions

Accounting and Reporting Considerations for Online Contributions: Recording Contributions

There are a number of options for generating online contributions and each has advantages and disadvantages (see the right column for more information):

The nonprofit's own Web site
Application service provider ("ASP") or third-party service bureau
Giving Web sites

Nonprofit Finance and Accounting 2011 | Philanthropy Journal

Nonprofit Finance and Accounting 2011 | Philanthropy Journal: "In this special report, PJ looks at ways nonprofits are handling their finances and accounting in the face of the troubled economy."

How to Hire a Great Accountant for Your Nonprofit | Blue Avocado

How to Hire a Great Accountant for Your Nonprofit | Blue Avocado: "For many executive directors, hiring an accountant is fraught with anxiety. How will we find the right person? How can I tell if someone really knows accounting? Will an accountant fit in with the rest of us? As difficult as it is to hire a good accountant, hiring an incompetent or incompatible person is even worse. Here are some FAQs on hiring accountants for nonprofits, including what to do if you're having an impossible time of it:

Where do we recruit applicants?"

NYT: Soup-Kitchen Accounting

NYT: Soup-Kitchen Accounting: "Nonprofit accounting is designed to ensure that the recipients of grants from the federal government and other benefactors are held accountable for the funds they receive. Regrettably, the big banks that have been granted billions from the Troubled Asset Relief Program are less transparent in their financial reporting than the local soup kitchen that gets federal support.

Nonprofits use what is known as 'fund accounting.' Fund accounting requires that a separate set of books be maintained for all grants that are designated for a specific activity. The aim is to ensure that the resources are spent for their intended purpose."

AFP > Ethics | Emerging issues > New Accounting Standards on Reporting Fundraising Expenses

From the AFP website

AFP > Ethics | Emerging issues > New Accounting Standards on Reporting Fundraising Expenses: "New Accounting Standards on Reporting Fundraising Expenses

(July 30, 2007) The American Institute of Certified Public Accountants (AICPA) released new guidelines for the reporting of fundraising expenses by charitable organizations.

The AICPA has released three Technical Practice Aids (TPAs) that answer key questions about how fundraising expenses should be accounted for in the following situations. AFP’s Code of Ethical Principles and Standards of Professional Practice requires that members “use accurate and consistent accounting methods that conform to the appropriate guidelines adopted by the American Institute of Certified Public Accountants (AICPA)* for the type of organization involved. (* In countries outside of the United States, comparable authority should be utilized.)”"