Not-For-Profit Newsletter December 2015

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SKR+Co Not-For-Profit Newsletter

December 2015


FASB proposes accounting change for nonprofits

The Financial Accounting Standards Board recently proposed Accounting Standards Update No. 2015-230, which would significantly change a 20-year-old financial reporting model. The changes are intended to simplify the current net asset classification requirements and the presentation of information in nonprofits’ financial statements and footnotes about liquidity, financial performance and cash flows.

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Beyond the bottom line:
The power of outcome measures

Outcome (or performance) measurement should gauge the level of accomplishment of a program goal in terms of changes in the lives of individuals, families or the community at large. This article defines outcome measurement, discusses its importance to a not-for-profit and highlights the caveats.

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How to improve your accounting function

A not-for-profit’s accounting function is its financial backbone. Efficient accounting processes — along with sound controls to monitor them will put the organization on the right track for financial stability and growth. This article provides some suggestions for improving this important piece of a not-for-profit's operation.

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In this issue, “Newsbits” discusses a report that uncovers dissatisfaction among millionaires who donate to charities; findings of an annual compensation survey showing that executives of large not-for-profit's and foundations are starting to see bigger raises; and a new tool that assigns dollar values to social projects.

Read the Full Article Here.



Get the latest news to help your organization fulfill its mission!





Steve Hochstetter, CPA, ABV, CFF,CVA
Audit Partner

Ellen Fisher, CPA

Audit Partner

Jamie Meidinger, CPA
Senior Audit Manager


Doreen Merz, CPA
Tax Manager



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SKR+CO Expert
Steve Hochstetter, CPA/ABV®, CFF™, CVA, Audit Partner
Steve has been in public accounting since 1983, with significant experience serving nonprofit organizations, healthcare organizations, governmental entities, and small to mid-size businesses.