Accounting Guidance

Nonprofit Accounting Basics Website

New Contract Revenue Recognition Standard

• Steps 1-3
• Steps 4-5 and Disclosures
• Transitioning to the New Standard
• Suggested steps for implementation from the Journal of Accountancy and AICPA

Changes to Nonprofit Financial Statement Presentation

• Net Asset Reporting
• Reporting Underwater Endowments
• Statement of Cash Flows
• Return on Investments, Long-Live Asset Classifications
• Disclosures, Part 1 and Part 2

Accounting Manuals

• Why to Have One and What to Include
• General Accounting Policies
• Billing, Cash Receipts, Accounts Receivable
• Purchasing, Cash Disbursements, Accounts Payable
• Payroll
• Fixed Assets
• Month-End and Year-End Close Processes
• Access, Data Security, Disaster Recovery

Recognizing Gifts in Kind

Unrelated Business Income

FAS 116 – Revenue Recognition for Nonprofits

Article about Accounting for Multi-Year Grants under FAS 116

Flowchart for Recognizing Revenue under FAS 116

FAS 95 – Presentation of the Statement of Cash Flows

Hiring a Quality Auditor (AICPA Resource)

IRS Guidance on Expensing versus Capitalizing Repairs and Maintenance