As required by the Financial Accounting Standards Board’s (FASB) Accounting Standards Update (ASU) 2016-14, Presentation of Financial Statements of Not-for-Profit Entities, not-for-profit organizations (NFPs) must include in their financial statements or note disclosures total expenses by function and natural class.
The SEC recently issued two promulgations: (1) a rule change amending certain disclosure requirements, and (2) an amendment to the definition of a smaller reporting company. We have summarized the information contained in each.
The Financial Accounting Standards Board (FASB) recently issued Accounting Standards Update (ASU) 2018-17 Consolidation (Topic 810): Targeted Improvements to Related Party Guidance for Variable Interest Entities.
When a private foundation files its annual Form 990-PF, it includes supplementary information to support the Part I, line 25, column (d) amount of “contributions, gifts, grants paid.”
By 2025, the crowdfunding industry is expected to grow to more than $300 billion. In a nutshell, crowdfunding is raising money through many relatively small donations during a set period of time, typically for a specific campaign or goal, through an online platform.
Many Employee Stock Ownership Plan (ESOP) sponsors are presented with the challenge of maintaining an ESOP over the long-term.
Digitization, artificial intelligence and cloud-based systems herald a workplace revolution as temporary professionals come to the rescue.
Harry’s, Halo Top, Justins, e.l.f. Cosmetics, KeVita – just to name a few. These are smaller brands that have carved out a nice niche for themselves. Just in case you haven’t noticed, insurgent brands have been gaining market share at a fast pace and have proven to be successful investments.
The recording of most transactions by not-for-profit organizations, as prescribed by Generally Accepted Accounting Principles in the United States (U.S. GAAP) and contained as codifications within the FASB Accounting Standards Codification, is based on clearly defined, objective, and measurable valuations.
Opportunity Knocks as Treasury Issues Proposed Income Tax Regulations on Qualified Opportunity Zone Funds
The Internal Revenue Service recently issued long awaited proposed regulations along with Revenue Ruling 2018-29 answering many, but not all, of the key unresolved points surrounding investing in qualified opportunity zone funds (QOZFs).