blog updates

Follow KSM
Search

KSM blog

Not for Profit

Prev 1 2 3 ... 4 Next

Small Business Administration Issues Clarification on Faith-Based Organizations’ Participation in Loan Programs

Posted 2:51 PM by
Lenders and advisors alike have questioned whether churches, faith-based organizations, or organizations with religious affiliations are qualified to participate in Small Business Administration (SBA) loan programs offered as economic relief during the coronavirus outbreak. Previous SBA documentation indicated that “religious” entities were disqualified from receiving loans from the SBA. The CARES Act, signed into law on March 27, designated that 501(c)(3) entities and 501(c)(19) entities are eligible participants in the Paycheck Protection Program, but it did not specify if the “religious” status would make faith-based organizations ineligible.
link
| comments (0)

Proposed Accounting Standards Update - In-Kind Contribution Reporting

Posted 1:45 PM by
The Financial Accounting Standards Board (FASB) has issued the Proposed Accounting Standards Update Not-for-Profit Entities (Topic 958): Presentation and Disclosures by Not-for-Profit Entities for Contributed Nonfinancial Assets (Exposure Draft), which would impact the presentation and disclosure of contributed nonfinancial assets, also known as gifts-in-kind (in-kind donations), if the proposed changes are finalized.
link
| comments (0)

Accounting Update for Not-for-Profit Entities: Leases

Posted 3:00 PM by
In February 2016, the Financial Accounting Standards Board (FASB) issued one of the most sweeping changes to generally accepted accounting principles in the United States (GAAP) – Accounting Standards Update (ASU) No. 2016-02, Leases (Topic 842). The new lease accounting standards and subsequent amendments require lessees to report all leases with a term greater than 12 months, including operating leases, on the statement of financial position.
link
| comments (0)

KSM to Present 2019 Year-End Not-for-Profit Update

Posted 3:45 PM by
Katz, Sapper & Miller’s Not-for-Profit Services Group will host its annual Year-End Not-for-Profit Update on Nov. 6 in Indianapolis and on Nov. 12 in Fort Wayne, IN.
link
| comments (0)

Accounting Update for Not-for-Profit Entities: Revenue Recognition

Posted 2:00 PM by
Not-for-Profit Services Group to help organizations navigate and understand Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers (Topic 606).
link
| comments (0)

Standards Update: 8/22/19

Posted 5:27 PM by
The Financial Accounting Standards Board (FASB) regularly issues Accounting Standards Updates (ASUs) to make changes to the FASB Codification, the primary source of Accounting Principles Generally Accepted in the United States (GAAP). Below is a select ASU that was recently issued.
link
| comments (0)

KSM’s Not-for-Profit Services Group to Host Board Governance Workshop

Posted 12:51 PM by
Katz, Sapper & Miller’s Not-for-Profit Services Group will host the “Not-for-Profit Board Governance Workshop” on Sept. 18 in Indianapolis. The two-hour workshop will discuss the fundamental elements of board governance and how best practices can help realize a not-for-profit organization’s strategic vision.
link
| comments (0)

Tate to Discuss Tax Updates at Indiana CPA Society’s 2019 Not-for-Profit Conference

Posted 2:30 PM by
Katz, Sapper & Miller’s Casse Tate, partner in the firm’s Not-for-Profit Services Group, will present at the Indiana CPA Society’s 2019 Not-for-Profit Conference. The conference, which will take place July 25 in Indianapolis, is geared toward CPAs in public accounting who have not-for-profit clients as well as CPAs working as staff at not-for-profit organizations.
link
| comments (0)

Not-for-Profit Accounting Standards Update: Updating the Definition of Collections

Posted 12:00 PM by
The Financial Accounting Standards Board (FASB) became aware that the definition of collections in the Master Glossary of the FASB Accounting Standards Codification® (ASC) did not agree with the definition used in the American Alliance of Museums’ Code of Ethics for Museums (the Code). The Code had been revised after the issuance of a prior FASB statement, which served as the basis for the definition of collections in the ASC. Accounting Standards Update (ASU) No. 2019-03, Not-for-Profit Entities (Topic 958): Updating the Definition of Collections, was issued to realign the definition used in the Master Glossary of the ASC with the definition used in the Code.
link
| comments (0)

Christie and Hayes Recognized as Emerging Leaders

Posted 5:30 PM by
KSM directors Ashley Christie and Justin Hayes have been recognized as up-and-coming leaders in the accounting profession and the Indianapolis community.
link
| comments (0)
Prev 1 2 3 ... 4 Next