Archive: Nonprofit

What to do During an IRS Audit of Your Nonprofit

Nothing seems to strike as much fear and anxiety as receiving the dreaded notice that your organization is under audit from the IRS. IRS audits of nonprofit organizations are fairly commonplace, and can go very smoothly if you know what to expect and how to proceed. Compliance Check v. Examination The first thing to do […]
May 18, 2022

Aronson Welcomes Eamon McArdle to Business Operations Group

ROCKVILLE, MD, May 16, 2022- Aronson, a nationally ranked top 100 assurance, tax, and consulting firm is pleased to announce that Eamon McArdle has joined the firm to lead business development for the Nonprofit and Associations Services Group.   Eamon brings several years of experience in account management, sales, and client service in a variety of […]
May 16, 2022
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7 Steps to a Faster, Better Financial Month-End Close in Sage Intacct for Nonprofits

Did you know that an international study shows that most companies close their books in six days? While that may seem unrealistic to most of us, wouldn’t you like to know their secrets to a faster and better month-end close? Join Aronson’s Sage Software & Consulting Team for our next Sage Intacct webinar. They will […]
February 10, 2022

Nonprofit Revenue Recognition Webinar

Download presentation slides. Nonprofit accounting for exchange transactions are difficult. Recent accounting standards such as ASC (Accounting Standards Codification) 606 add to the complexity. This course shows you how to assess transactions with customers using a five-step approach. You may need to consider multiple additional considerations within these steps depending on the nature of the […]
January 13, 2022

Sage Intacct: Accounting Automation for Schools

Say goodbye to manual accounting processes and hello to automated solutions. Join Aronson’s Sage Team, Misty Palek and Maureen Sibold, for a Sage Intacct demonstration that can help automate accounting for your school. Tune in on December 7, 2021 from 11:30 a.m. – 12:30 p.m. ET to discuss the following topics and get an inside […]

Aronson’s National Church Finance and Operations Conference

Join Aronson for our 2021 National Church Finance and Operations Conference on November 9th! This free virtual conference will focus on the unique challenges facing churches, and provide expert insights into overcoming them. Five hours of CPE will be offered. Industry experts will lead discussions on critical issues facing churches today, including: Creating faith-based community government […]

Agency Transactions

According to U.S. GAAP an agency transaction is a transaction in which the reporting organization acts as an agent, trustee, or intermediary for another party. Nonprofit entities may also act as agents, trustees, or intermediaries by facilitating donations from one entity to another. When a nonprofit acts in such a capacity the nonprofit does not […]
September 29, 2021

What are Donor-Imposed Conditions?

Donors can impose two different types of stipulations on contributions provided to nonprofits, restrictions and conditions. While donor-imposed restrictions specify the use and are usually easier to identify, as they limit what you spend the contributed funds on, donor-imposed conditions are more restrictive and often limit how you spend the contribution. Donor-imposed conditions should be […]
June 23, 2021

Prohibition on Certain Telecommunications Equipment and Services for Federal Grant Awardees

Many federal award recipients are unaware that on August 13, 2020, 2 CFR § 200.216  Prohibition on certain telecommunications and video surveillance services or equipment went into effect. This prohibition covers all non-federal entities receiving federal grant awards, cooperative agreements, and loans or loan guarantees. Under § 200.216, non-federal entities are prohibited from spending or […]
June 22, 2021

What is the Difference Between a Procurement and a Subrecipient?

For audits under Uniform Guidance, one of the more common errors relates to making the distinctions between procurements through contractors or subcontractors, and subawards through subrecipients. Both of these relate to payments going out to another entity for work performed on an agreement, but there are key differences between the two. What are the main […]
May 10, 2021