9-11-18 Not-for-Profit Seminar

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Is Your Organization Ready for the New Nonprofit Reporting Requirements?  How will you report your net asset balances and activity based upon the new classification classes?  Are you prepared to present a statement of functional expenses and the methods of allocation and classification?  Have you considered the new required financial statement disclosures regarding liquidity? GYF […]

NetSuite Named Leader in Nonprofit Accounting Software

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NetSuite has been recognized as a leader in Nonprofit Accounting by G2 Crowd, a leading peer-to-peer review platform for business software. Their research reports and vendor comparisons are based on user ratings and social data. This accolade, driven by actual users providing reviews about the products they use to run their organizations, solidifies NetSuite’s position […]

5-10-18 Not-for-Profit Seminar

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Preparing for Audits & Tax Reform Changes GYF presenters will discuss how to prepare for your audit, address common audit requests and concerns, and offer suggestions for best practices. We will also review the information provided at the conclusion of the audit. Additionally, changes resulting from the tax reform law will be covered. Two hours […]

Eliminating the Pain and Cost of Grant Accounting

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NetSuite’s SuiteSuccess for nonprofits product offers powerful new capabilities that transform how nonprofits handle grant accounting. Simply put, NetSuite is making it dramatically easier for nonprofits to track how, when and where a grant is spent on any given project, down to the line-item transactional level. This helps nonprofits better manage complex revenue streams from multiple sources, […]

Honoring Individuals Making Pittsburgh a Better Place

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We are pleased to sponsor Three Rivers Champions, a new online recognition program from Pittsburgh Magazine, designed to honor local individuals who make Pittsburgh a better place by serving our community through volunteerism and charitable deeds. Do you know someone who deserves to be names as a Three Rivers Champion? If so, nominate him or her […]

FASB, ASU, NFP, not-for-profit entities

New FASB Guidance Issued for Not-for-Profit Financial Statements

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More than a year after the proposed changes were presented in an exposure draft in 2015, the Financial Accounting Standards Board (FASB) issued the final Accounting Standards Update (ASU) 2016-14, Not-for-Profit Entities (Topic 958) – Presentation of Financial Statements of Not-For-Profit Entities.  Throughout the process, the FASB garnered feedback and issued updates, and the final […]

not-for-profits, accounting standards update, FASB, GYF, Grossman Yanak & Ford LLP, Pittsburgh, CPAs

Update on Proposed Accounting Changes for Not-for-Profits

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The Members of the Financial Accounting Standards Board (FASB) met on October 30, 2015 to discuss the feedback received on the proposed Accounting Standards Update, Not-for-Profit Entities (Topic 958) and Health Care Entities (Topic 954): Presentation of Financial Statements of Not-for-Profit Entities. The timing of a final release for the ASU has not yet been […]

IRS Changes Form 990 Audit Approach

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With many, if not most, federally tax exempt organizations coming up on the end of their fiscal years at June 30, the Commissioner of the Internal Revenue Service has authorized a new and fresh approach to the audit process for these organizations. In a speech at the Representing and Managing Tax Exempt Organizations conference, Internal […]

FASB to Release Proposed Changes for Not-for-Profit Financial Statements

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The Financial Accounting Standards Board (FASB) has announced that it is getting ready to release a set of proposals that could have a major impact on the way nonprofit organizations present their financial statements. The FASB voted earlier this month to issue a proposed accounting standards update (ASU) that would include improvements to the current […]