Accounting Firms Auditing Compliance GAAP 
The Charity CFO
AUGUST 15, 2023
For accountants, this means the profit-generating strategies and investment ideas you bring to the table are still applicable and can make a massive impact. One key differentiator is that what is recorded following GAAP is what will show up on the audit and may not show up on the IRS tax form, Federal Form 990.
The Charity CFO
JANUARY 17, 2022
Accrual accounting is required by Generally Accepted Accounting Principles (GAAP), which means that you’ll need accrual-based reports to complete a nonprofit audit. Accrual accounting is the preferred method for any organization that needs to be audited or anticipates significant growth.
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