by BDO USA | Jul 21, 2021 | Articles, Industry Accounting, Lease Accounting, Non-Profit
Since navigating the headwinds of the past year, nonprofit organizations have reimagined their operations to maintain relationships with donors, volunteers and the communities they serve while discovering new means to protect mission funding. Even so, the impacts of...
by BDO USA | May 13, 2021 | Articles, Industry Accounting, Non-Profit
The COVID-19 pandemic has impacted nonprofits in dramatically different ways, with some organizations scrambling to meet rapidly rising demand and others shrinking to survive the ongoing crisis. Whether an organization’s situation has been one of boom, bust or...
by BDO USA | Feb 25, 2021 | Articles, ASC 350-20, Goodwill Accounting, Intangible Assets
Summary provided by MaterialAccounting.com: FASB issued updated guidance for private and not-for-profit entities. ASU 2021-03 helps simplify the goodwill triggering event evaluation process. Summary The FASB issued ASU 2021-03[1] (“ASU”) to provide private companies...
by BDO USA | Feb 25, 2021 | Articles, ASC 606, Revenue Recognition
February 2021 The FASB issued ASU 2021-02 (“ASU”) to provide franchisors that are not public business entities with a practical expedient to account for certain pre-opening services as distinct from the franchise license when identifying performance obligations under...
by BDO USA | Feb 25, 2021 | Articles, Auditing
Employee benefit plan sponsors and their auditing firms need to begin preparing for the adoption of Statement on Auditing Standards No. 136 (SAS 136), Forming an Opinion and Reporting on Financial Statements of Employee Benefit Plans Subject to ERISA (Employee...
