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But we are proud to say that Kimberly McLaughlin contributed 4 entries already.
FASB issued ASU 2016-02, Leases (Topic 842) in February 2016. The new lease standards impact all public and private entities that report under Generally Accepted Accounting Principles (GAAP). The new standards are already in effect but not everyone has been prepared to implement the new standards. ASU 2016-02 was effective for private companies and nonprofit […]
Learn more about the accounting standards update 2020-07 which impacts all nonprofits that receive in-kind donations.
Accounting frameworks provide information on how to measure, recognize, present, and disclose the information included in an entity’s financial statements. There are various frameworks that businesses can elect to adopt, depending on their financial needs.
The objective of a financial statement audit is to provide assurance regarding the quantitative and qualitative aspects of a business or organization. Most organizations understand that financial statement audits happen – and for a myriad of reasons.
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