Blog Archives: Cheryl R. Olson

QuickBooks is an effective accounting system for many companies. But our clients consistently ask us, “When do I need a new accounting system?,” and our answer is usually, “It depends!” Unfortunately, there is not one specific trigger, such as a budget threshold, asset size, or type of entity, that signals it’s time to upgrade an […]

On February 10, 2020, the Financial Accounting Standards Board issued proposed Accounting Standards Update (ASU), Not-for-Profit Entities (Topic 958): Presentation and Disclosures by Not-for-Profit Entities for Contributed Nonfinancial Assets. Contributed non-financial assets can include fixed assets, such as land, buildings, and equipment; materials and supplies, such as food, clothing, and pharmaceuticals; and intangible assets and/or […]

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