Auditing GAAP Investments Prioritization 
The Charity CFO
JANUARY 21, 2022
Both Generally Accepted Accounting Principles (GAAP) and Financial Accounting Standards Board (FASB) 116/117 require at least a minimum level of fund reporting, so you’ll need it in order to pass an audit. Permanently restricted are typically large donations that function as investment accounts or an endowment fund.
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.
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