Accounting Standards Auditing Nonprofit 
The Charity CFO
MARCH 20, 2025
The Silent Threat Lurking in Your Nonprofit Think your nonprofit is safe from fraud? Fraud happens in nonprofits far more often than leaders realizeand its not just the obvious scams. And heres the real kicker: audits dont catch most of it. And heres the real kicker: audits dont catch most of it. Think again.
The Charity CFO
MAY 10, 2022
If your nonprofit uses donations of supplies, services, and even time to help fund your operations, you need to know about recent changes in accounting standards for in kind donations. Typically, a CPA would prepare these statements as part of a yearly review or audit. Take the case of a food pantry, for instance.
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The Charity CFO
JANUARY 19, 2023
Accounting standards for nonprofits are probably not the first thing you think about, but are crucial for your organization to succeed. Nonprofit organizations distinguish themselves from for-profit entities through their purpose and mission.
The Charity CFO
JULY 28, 2022
Updated standards on accounting for nonprofit leases ( ASC 842 ) go into effect this year for most organizations–and next year for the few remaining exceptions. If you’re not sure that your organization has adopted the new standards detailed in ASC 842, then keep reading. What is ASC 842 for nonprofit lease accounting?
The Charity CFO
JANUARY 21, 2022
Nonprofits often receive donations or grants designated for a specific purpose–like a donation to a specific program or grant you have to spend within a calendar year. And the issue of restricted funds presents unique bookkeeping and accounting challenges for a nonprofit that a for-profit company doesn’t face.
The Charity CFO
NOVEMBER 30, 2023
Does the idea of an audit from the IRS leave you with sweaty palms? Most nonprofit leaders aren’t accountants and the thought of getting audited is a sizable fear. Luckily, being prepared can help you avoid accounting mistakes that could come up in a nonprofit audit.
The Charity CFO
JANUARY 5, 2022
Functional expense reporting confuses many first-time nonprofit bookkeepers and executives. But it is need-to-know-information in the nonprofit world. Because you’re required to report functional expenses to complete your IRS 990 and maintain nonprofit status. Don't hire the wrong accountant for your nonprofit!
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