Article Archives: Candi Avery

Posted by: Candi Avery

Initially enacted in 1938, the Fair Labor Standards Act (FLSA) requires employers to provide their employees with a minimum wage and overtime pay. Unless certain exemptions are met, employees are eligible for overtime pay for any hour worked over 40 in a workweek. The overtime pay rate must not be less than one and one-half […]

Posted by: Candi Avery

The ultimate goal of providing an organization’s board with financial reports is to help them understand where the organization is and where it needs to go. Unfortunately, it is a common struggle when reporting to strike the right balance between providing meaningful, comprehensive information and being engaging to your readers. Below are some tips on […]

Posted by: Candi Avery

In August 2017, the Financial Accounting Standards Board (FASB) issued an exposure draft, Clarifying the Scope and the Accounting Guidance for Contributions Received and Contributions Made. The draft is intended to provide a more robust framework for determining the proper accounting treatment of grants and contracts. Why is the Guidance Necessary? Under existing guidance, there […]

Posted by: Candi Avery

Candi Avery, CPA, CGMA Up until now, there has not been guidance related to going concern analysis and financial statement disclosure requirements in U.S. GAAP. Existing guidance has been embedded in the auditing standards, which have always required that auditors, not management, evaluate an organization’s ability to continue as a going concern for a reasonable […]

Posted by: Candi Avery

By Candi Avery, CPA, CGMA Originally enacted in 1938, the Fair Labor Standards Act (FLSA) requires employees to be paid a minimum wage and overtime pay at a rate of not less than one and one-half times the employee’s regular rate for hours worked over 40 in a workweek, unless certain exemptions are met. Under […]

Posted by: Candi Avery

By Candi Avery, CPA, CGMA The City of Seattle will soon have the highest minimum wage in the nation. In June 2014, the Seattle City Council signed into law an ordinance that increases the minimum wage for employees working in the City of Seattle to $15 an hour over the next 3 to 7 years, […]

Posted by: Candi Avery

By Candi Avery, CPA, CGMA Charities rely on the generosity of donors to make programs happen, and contributions are often the lifeblood of the organization. Organizations that build responsible fundraising practices are more likely to succeed than those that do not. The following are practical guidelines, policies, and practices that charities soliciting funds should review […]

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