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The Characteristics of Top Staff Accountants

Managing the fund accounting process for nonprofits requires an Accountant that shines with accuracy, detail, logic, and great communication skills. To find the diamond in the rough, deeper character traits and highly specific skills are needed. If you’d like to be numbered among the best accountants in your field, then make these skills a priority […]

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Nonprofit Staff Reap Rewards from Cloud Computing

Changing from an antiquated system to cloud-based fund accounting can be challenging. Some staff will most likely resist the change. Team members might be concerned that their value as the “go-to answer gal/guy” for navigating through the old system challenges will be lost. Nevertheless, when an organization realizes the numerous benefits of cloud computing, their […]

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When Your Nonprofit Executive Moves On

It’s inevitable. Nonprofit executives will come and go. When a beloved leader decides to retire or leave an organization, it offers both challenges and opportunities. The shoes of a great CEO or CFO can be hard to fill. Finding someone to care for the people and believe in the mission who also has great leadership […]

FASB

It May Be Time to Update Your Nonprofit Policies

It may be time to update your nonprofit policies about how grants and contributions are accounted for in your organization’s financials. FASB issued a proposed Accounting Standards Update (ASU), titled Clarifying the Scope and Accounting Guidance for Contributions Received and Contributions Made. Although the comment period is now closed (it closed November 1, 2017), nonprofits […]

nonprofit best practices

Nonprofit Best Practices: Budgeting Early, Updating Budgets Often

Among the many nonprofit best practices discussed in trade magazines and industry circles, budgeting is often relegated to the back pages or as an afterthought. Sound budgeting is the fuel that runs the nonprofit engine, ensuring that every program has enough support to run for the year and that funds are allocated fairly throughout the […]

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Nonprofit Best Practices

Nonprofit Best Practices: Preparing for an Audit

A smooth audit is possible for your staff and the auditors. Nonprofit best practices, including preparing documents ahead of time, saves time and decreases the potential for distraction. Preparing an engagement letter, (aka: Request for Proposal) is oftentimes used as a roadmap during the audit, however, you may still have questions about exactly what the […]

nonprofit policies

Do Work at Home Options Increase Productivity for Nonprofits?

Studies reveal, compared to employees that come into the office, at-home workers tend to be happier and less likely to quit as well as more productive. BizTech magazine reports that remote employees tend to work 20 percent more than on-site employees. They typically clock more than 40 hours per workweek, too. Are you ready to […]

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not for profit organizations

Not for Profit Social Media on the Rise

69 percent of the public is using social media. 7 out of every 10 Americans are tweeting, pinning, and posting to connect with others, engage with news content, share information, and entertain themselves. Social media has become an important communication channel for all, including not for profit organizations. Top Social Sites for Not For Profits […]

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Careers in Accounting for Nonprofits: Become an Internal Auditor

  There’s a strong need in the nonprofit sector for more internal auditors. Accounting for nonprofits includes the role of the internal auditor, a staff member whose job it is to audit the finances of the organization but there are challenges in the industry to find good internal auditors. According to a Deloitte study, only […]

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Revenue Recognition Topics in Nonprofit Accounting

  Revenue recognition is an important topic for nonprofit accounting. Recent FASB updates changing revenue recognition guidelines and standards for nonprofits make it more important than ever to be clear on how your organization recognizes revenue. Many nonprofits struggle with the decision to recognize revenue as contributions or exchange transactions. The distinction between the two […]