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Kim Anselmo – Wednesday, August 31, 2016

Is Your Nonprofit Ready for ASC 606?

Is Your Nonprofit Ready for ASC 606?

If you're confused about Accounting Standards Codification (ASC) 606: Revenue from Contracts with Customers, you're not alone.

The effective date of the new revenue standard has been deferred until December 15, 2017 for non-public entities, but that still doesn't leave nonprofits with much time to prepare.

Here's some background and what we recommend.


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Kim Anselmo – Monday, June 20, 2016

When Should Your Company Start Planning for the New Accounting Guidelines - ASC 606 and IFRS 15?

New Revenue Recognition RequirementsThe new ASC 606 and IFRS 15 revenue management guidelines will have a major impact on public companies in 2018 and private companies in 2019.

The Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB) will require companies to reallocate revenue each time a customer contract changes and defer expense recognition to align with the contract's delivery.

As a result, contract add-ons and renewals must be integrated into a single contract and will trigger re-allocations across both past and future periods, causing continuous revisions to revenue allocations and expense alignment. 

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Kim Anselmo – Friday, June 03, 2016

When Your Nonprofit Accounting Software Needs Replacing

Nonprofit Accounting Software: When It Needs ReplacingThis is the first post in our blog series: Best Practices for Selecting Nonprofit Accounting Software

Having easy access to mission-critical financial information is key to the growth for nonprofits, especially if you are expanding your services, opening new locations and winning more grants.

However, too many nonprofit business decisions are made with educated guesses from a patchwork of financial data drawn from your accounting software combined with spreadsheets, email and hardcopy reports. This time-consuming and error-prone process of consolidating even basic accounting data is a symptom of legacy accounting software. 

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2019 Accounting Software & Financial Management Buyer's Guide

2019 Accounting Software & Financial Management Buyer's Guide

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