On July 30, 2025, the Financial Accounting Standards Board (FASB) issued ASU 2025-05, which amends ASC 326-20, and it is aimed at reducing the complexity and cost of estimating credit losses for current accounts receivable and contract assets. This change is...
Audits can be a pivotal moment for nonprofit organizations—offering an opportunity to validate stewardship, ensure compliance, and strengthen transparency. At the same time, they can also bring stress, disruption, and long hours of scrambling for documents if not...
Every nonprofit organization - whether small or large - needs strong, diverse leadership to grow and thrive in today’s competitive environment. While effective management is crucial, an organization’s Board of Directors plays a critical role in shaping its strategy,...
Starting and maintaining a nonprofit in Florida requires compliance with various state laws and regulations. Here is an overview of the key requirements to establish and operate a nonprofit organization in Florida. Florida Incorporation & Registration Nonprofit...
The nonprofit sector relies on strong leadership to fulfill its mission and ensure long-term sustainability. One of the most important responsibilities of a nonprofit board of directors is to establish fair and reasonable compensation for the executive director or...
The workplace landscape is continually evolving, and with each new generation that enters the workforce, leadership styles and strategies must adapt to meet its unique needs and expectations. Private Schools, known for their commitment to academic excellence and...
On January 21, 2022, The Federal Deposit Insurance Corporation (FDIC) adopted a new deposit insurance rule for “trust accounts” and mortgage servicing accounts that makes it easier to understand. These rules will go into effect April 1, 2024. The highlights of the new...
Background: Funding from the program will support up to 150,000 childcare workers with bonus payments ranging from $2,300 to $3,000 (depending on modality) to staff in caregiving roles, as well as funding to support childcare programs’ efforts to recruit new staff,...
Proposals and cost allocation plans in the light of auditor’s independence requirements. The Government Accountability Office (GAO), on January 25, 2002, issued an amendment to Government Auditing Standards (1994 revision), Amendment No. 3, Independence, which...