Stay up to date on what's happening!
State and local governments are permitted to establish Sec. 457 government retirement plans but usually not Sec. 401(k) plans. Find out differences between the two, including rules on early distributions. Continue Reading
The Financial Accounting Standards Board approved a tweak to the goodwill rules for private businesses and not-for-profits, giving them more flexibility. Continue Reading
FASB responded to an urgent pandemic-related accounting concern Wednesday by voting to provide private companies and not-for-profits with an alternative to the requirement to monitor and evaluate goodwill impairment triggering events throughout the fiscal year and potentially measure a goodwill impairment at the date of triggering events. Continue Reading
Nonprofit and for-profit organizations that received Paycheck Protection Program loans could unexpectedly find themselves confronting the “single audit” requirement for the first time, even though PPP loans are supposedly exempt. Continue Reading
New resources available from OSCPA Governmental Accounting and Auditing Committee. Continue Reading
State auditors have told the state agency responsible for handing out millions in coronavirus relief money through the CARES Act that it needs to make sure the money is spent on Oregonians in the ways intended. Continue Reading
COVID-19 has affected not-for-profits in vastly different ways - here's what auditors need to know. Continue Reading
The IRS today reminds tax-exempt organizations that 990s and other forms are due on July 15, 2020. Continue Reading
There are now several new accounting standards that not-for-profits will need to implement over the next few years. Continue Reading