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Updated Accounting Standards for In-Kind Donations (2022)

The Charity CFO

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. A description of the valuation techniques and inputs you used to determine the fair market value of the gifts (in accordance with Topic 820 ). .

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FASB shifts to prioritize 'rapidly evolving' crypto assets

CFO Dive

The board is getting serious about improving accounting standards for digital assets even as a crypto market slump is hammering valuations.

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How to best prepare for an audit post-acquisition

E78 Partners

Audits are an essential part of ensuring that a company’s financial statements are accurate and compliant with accounting standards. Create an Audit Readiness Team: Identify an audit readiness team and assign responsibilities to ensure accountability. Here are some key steps to get ready for an audit post acquisition.

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IFRS 17: Huge work required before delivery success

Future CFO

The total cost faced by the global insurance industry to implement the accounting standard is now estimated by WTW to be US$18 billion to US$24 billion, survey report indicates. People: More than 10,000 people will be required to deliver the accounting standard in the next two to three years.

IFRS 52
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5 Steps to Prepare your Organization for a Financial Audit

E78 Partners

This is not just because of the intricacies and specificities required by the auditing standards but also due to the numerous challenges faced by organizations in the run-up to an audit. Furthermore, in an era of intricate financial landscapes, preparing for compliance with complex accounting standards becomes non-negotiable.

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The End of Accounting? Sustaining Financial Reporting

CFA Institute

The explanatory power of the financial information reported to investors for market valuation has plummeted in recent decades.

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How to Properly Record Revenue for Nonprofits

The Charity CFO

This can lead to unique accounting and recordkeeping challenges that for-profit businesses don’t have to face—especially related to revenue classification. Accurate revenue recognition, classification, and records are some of the most important aspects of nonprofit accounting. Likewise, expenses are recorded when they are incurred.