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All About Audit & Assurance (7)

7 Must Know Changes in Nonprofit Financial Statement Reporting

When the Financial Accounting Standards Board (FASB) issued long awaited changes to financial reporting for nonprofit organizations, it was a big deal because it was the first time in more than 20 years that FASB made major modifications. These new...
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Nonprofits, 3 Reasons Why Nothing Is More Expensive than a Cheap Audit

I’ve heard it more than once at the conclusion of a nonprofit organization’s RFP process: “We really liked your CPA firm, but ... we went with another firm whose audit services cost less.” Hhmm, sounds good for the nonprofit’s pocketbook, right? Well,...
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How Does Your Skilled Nursing Facility’s Bad Debt Expense as a Percentage of Revenue Measure Up?

One of the most common questions we get from our skilled nursing facility clients is, “How does my facility’s bad debt expense as a percentage of revenue compare to industry averages?”
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How to Choose an Employee Benefit Plan Auditor

In a letter to administrators of “large” employee benefit plans — plans with more than 100 participants — the U.S. Department of Labor reported high levels of concern about the audit quality of employee benefit plans as well as the CPAs who perform them.
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What Nonprofits Should Know About OMB’s Uniform Guidance

In December 2013, the U.S. Office of Management and Budget (OMB) issued its long-awaited final grant reform rules.
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What Do Your Financial Statements Say About Your Company’s Future?

Motivational speaker Zig Ziglar once said “how you see your future is much more important than what happened in the past.” The same holds true for business owners and how they view their businesses.
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