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Our Blog

Revenue recognition and leases: FASB gives certain entities more time

01 July 2020
Revenue recognition and leases: FASB gives certain entities more time

Private companies and most nonprofits were supposed to implement updated revenue recognition guidance in fiscal year 2019 and updated lease guidance in fiscal year 2021. In the midst of the novel coronavirus (COVID-19) crisis, the Financial Accounting Standards Board (FASB) has decided to give certain entities an extra year to make the changes, if they need it.⠀ ⠀


To survive the current crisis, your nonprofit needs multiple revenue sources

17 June 2020
To survive the current crisis, your nonprofit needs multiple revenue sources

One of the strongest predictors of a not-for-profit’s long-term survival is multiple revenue streams.


5 steps to streamline the month-end close

16 June 2020
5 steps to streamline the month-end close

Many companies struggle to close the books at the end of the month. Fortunately, there are five simple ways to make your monthly closing process more efficient.


Nonprofits: Navigate COVID-19 obstacles with virtual board meetings

20 May 2020
Nonprofits: Navigate COVID-19 obstacles with virtual board meetings

Even if your not-for-profit’s board of directors usually meets in person, current events strongly suggest the need for a Plan B. Here are some best practices for holding virtual board meetings.


Benchmarking: Why normalizing adjustments are essential

19 May 2020
Benchmarking: Why normalizing adjustments are essential

There are two types of “benchmarks” that a company’s financials can be compared to — its own historical performance and the performance of other comparable businesses.