Tag Archives: Our Staff

Nonprofit Accounting Updates – Are you Ready?

FASB Accounting Standards Update (ASU) 2016-14 marks the largest change to nonprofit accounting guidelines in over 20 years. YPTC has done the research. We understand the implications of ASU 2016-14. In case you missed our 2017 information sessions, two of our resources are attached to help you get ready: ASU 2016-14 implementation checklist ASU implementation white

Your Chart-of-Accounts: The Key to Meeting Competing Needs For Financial Information

Your nonprofit organization faces demands for financial reports from a variety of different constituencies including management, staff, board committees, funders, grantors, donors, auditors, bankers and the IRS. Many of these financial report readers require that your reports be presented in different formats. The question is: how do you set up your accounting system to satisfy

Behind the Numbers: Cost Allocations when Fundraising is Involved

In our previous Behind the Numbers article, we explained the accounting rules governing the allocation of costs among the functional areas of programs and supporting services in nonprofit organizations (see Nonprofit Issues, October 16-31, 2004). This sequel explores the additional and somewhat arcane accounting rules that dictate when and how “joint activity” costs are split

Behind the Numbers: Accounting for In-Kind Contributions

Almost all nonprofit organizations have at some time received “in-kind” contributions; also known as “gifts-in-kind.” These non-cash contributions can take various forms such as gifts of long-lived assets, services performed by volunteers, gifts of museum collection items, gifts of inventory, gifts of items used for fundraising purposes, free use of facilities and utilities or use