filed in Form 990 on Jun.30, 2009
This area of the Form 990 (on both the 990 and 990-EZ) is a great opportunity for readers of the 990 to get an idea of how your organization is spending its money. The description you provide for each program service should include the program name and a succinct description of the program. The three [...]
filed in Not-For-Profit (non-profit) Accounting on Jun.23, 2009
In today’s economy, we may see more non-profit entities combining forces, as they struggle to look for alternatives to closing their doors. The Financial Accounting Standards Board recently issued new guidance on how non-profit mergers and acquisitions should be accounted for. This guidance will be effective in 2010.
Up until now there really hasn’t been any [...]
filed in Fraud on Jun.16, 2009
Skimming, a very common fraud scheme, is the removal of cash from a victim prior to its entry in the accounting system. Employees who skim from their employer steal sales, donations, or receivables before they are recorded in the accounting records. Skimming schemes generally fall into one of four categories:
1. Unrecorded sales or donations
2. Understated [...]
filed in Loans, Money on Jun.09, 2009
A recent article about loan covenants describes them as “a loan’s bank-installed automatic braking system.”
What you should know about bank loan covenants:
- You are expected to read and understand then before signing your loan document, because once that document is signed you are bound to the terms and conditions regardless of your understanding of them.
- [...]
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