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GASB Statement No. 101, Compensated Absences
In June 2022, the Governmental Accounting Standards Board (GASB) issued GASB Statement No. 101, Compensated Absences (GASBS 101 or Statement). The Statement updates the accounting and financial reporting requirements for…
GASB Statement No. 100, Accounting Changes and Error Corrections
On June 13, 2022, the Governmental Accounting Standards Board (GASB) achieved a major milestone in issuing its 100th accounting statement, GASB Statement No. 100, Accounting Changes and Error Corrections (GASBS…
Presentation and Disclosure Examples for FASB ASU on Contributed Nonfinancial Assets
In the Fall 2022 edition of the Nonprofit Standard, Matt Cromwell recently outlined the implementation requirements of Financial Accounting Standards Board (FASB) Accounting Standards Update (ASU) 2020-07, Not-for-Profit Entities (Topic…
How Universities Can Navigate Declining Student Enrollment And Retention
By: David Clark, CIA, CFE, CRMA and LaShaun King, CPA Like many organizations, colleges’ and universities’ worlds were flipped upside down when COVID-19 emerged in the spring of 2020. To…
U.S. Department Of The Treasury Issues Final Rule For Coronavirus State And Local Fiscal Recovery Funds
By: Stacey Powell, CPA, CFE, CICA The U.S. Department of the Treasury (Treasury) released the Final Rule for Coronavirus State and Local Fiscal Recovery Funds (CSLFRF) on Jan. 6, 2022….
Best Practices for SVOG Single Audit Readiness
Hard-hit small businesses received more than $16 billion in much-needed COVID-19 relief through the Small Business Administration’s (SBA) Shuttered Venue Operators Grant (SVOG) program. Many organizations that received this funding…