CPA Government & Nonprofit Report articles from August 2003

CPA Government & Nonprofit Report archives from August 2003

Functional reporting for nonprofit entities.
August 1, 2003... One of the more interesting aspects of nonprofit reporting is the requirement to report expenses by function in the financial statements. Financial Accounting Standards Board (FASB) Statement (FAS) No. 117 (Financial Statements of...

Editor's note.
August 1, 2003... Another month has gone by and we are still anxiously awaiting the release of the new Yellow Book. Informed sources had it being released in May, but at press time--no Yellow Book. We are also awaiting the revision to the OMB A-133 that will...

Understanding federal government expenditures for single audit purposes.
August 1, 2003... The Office of Management and Budget (OMB) Circular A-133 requires that all governments and non-profits that have $300,000 or more in federal program expenditures must have a single audit. Generally, the $300,000 is related to expenditures or...

Handling program income in the single audit.
August 1, 2003... How to handle program income continues to be one of the most frequently asked questions in my single audit seminars. I have covered this area using the same types of questions that arose in my seminars. Q. What is program income? A....