Lease Accounting – Business
BACKGROUND For many businesses, their largest non-labor cost is facilities. There has always been...
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Category: Theodore Campbell
Lease Accounting – Nonprofits
Background For many nonprofits, the largest non-labor cost is facilities. For years this has...
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Lease Accounting – Schools
Background For many schools, the largest non-labor cost is facilities. For years this has created...
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Terminating your DB Plan
There once was a time when employees worked 25-30 years for the same employer and were rewarded...
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Financial Accounting Standards Board (“FASB”) Accounting Standards Update (“ASU”) 2014-09 – Revenue Recognition – Not-for-profit (“NFP”) entities (including private schools )
Nonprofit organizations are required to adopt the new revenue recognition standards during 2021....
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Accounting for Unemployment for Self-Insured Nonprofit Organizations
The Coronavirus Aid, Relief and Economic Security (“CARES”) Act was signed into law on March 27,...
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Coronavirus Funding
A number of groups have since begun to create response funds targeted toward deploying money to organizations helping New Yorkers through the health crisis.
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Accounting for PPP Loan Forgiveness
The guidance suggested that a nongovernmental entity (including not-for-profits, “NFP”) may account for the PPP loan as a financial liability in accordance with FASB ASC 470, Debt, if certain conditions are met. In addition, the guidance suggested that a nongovernmental NFP may account for the PPP loan as a conditional grant/contribution in accordance with FASB ASC 958-605, Not-for-Profit Entities: Revenue Recognition, if certain conditions are met.
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New PPP Rule Changes
t’s funny what a difference a few weeks make. Prior to June 6th, when the forgiveness period was only eight weeks, we were strategizing with our clients to try to determine which staff they needed to bring back to work, considering which base period would have the least impact on their FTE calculation, and determining if we should use the cash basis or alternate method for seeking payroll forgiveness?
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