Arizona Gives Day is Next Week!

For the third year in a row, Arizona Gives Day is approaching April 7, 2015. AGD, which is a collaboration between the Alliance of Arizona Nonprofits and the Arizona Grantmakers Forum, is a 24-hour online giving campaign meant to unite and connect Arizona residents with the not-for-profit community. Below are highlights from the inaugural Arizona …

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Why CPA testifying experts can’t accept contingent fee engagements

Attorneys are often asked to take on a litigation assignment where there is a potential for a large monetary amount to be awarded to their clients by the court. They may take on the work solely based on a contingent fee arrangement with their client. What this usually means is that if the attorney wins …

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Common Errors with Net Assets

When auditing an organization, what we often find is that clients are not tracking their restricted net assets. Or if they are tracking it, it is not correct. Some common errors we find include: Board designated amounts are classified as restricted – Board designated amounts, including board designated endowments, should be categorized as unrestricted as …

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Accounting Standards Update: Accounting for Identifiable Intangible Assets in a Business Combination

In recent Henry & Horne blog posts, we have discussed the implementation of new Financial Accounting Standards Board (FASB) Accounting Standards Updates due to The Private Company Council’s (PCC) diligent work in finding alternatives within U.S. Generally Accepted Accounting Principles warranted for private companies. In December 2014, the FASB formally issued Accounting Standards Update (ASU …

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How to Clean Up Old, Uncleared Checks in QuickBooks

There are a number of reasons why you may have old, uncleared checks on your books. Whatever the reason, it is important to clean any checks that should be cleared off your books in order to make sure you are not overstating your cash balance. First, you need to determine if the money is still …

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A Time to Reflect

We just rang in the New Year, 2015, and it is now a time for reflection on 2014. First and foremost, I wish to thank all the clients we served during the past year. Henry & Horne ’s Business Valuation and Litigation Support Services Group (H&H BV/LS Group) provided forensic, valuation and litigation services to …

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Henry+Horne gives back at the Phoenix Zoo

Last year I was fortunate to participate in Henry & Horne ’s first firm-wide community service event. It was at the Florence Crittenton campus in Phoenix, Arizona. Florence Crittenton provides shelter, education, counseling and social support to nearly 2,000 girls, ages ten to twenty-one. Our three offices in Scottsdale, Tempe, and Casa Grande joined together …

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Are you baffled by Schedule A?

Schedule A of the Form 990 is required to be completed by all public charities. This schedule shows the IRS how the Organization is a public charity (versus a private foundation) and also proves that the Organization is receiving enough support from the general public, in order to maintain its status as a public charity. …

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