Success for not-for-profits (NFPs), regardless of their type or size, is built on a firm foundation of fiscal accountability and governance. Achieving these oftentimes elusive goals requires more than traditional business know-how and insights into the industry.
When an organizationÔÇÖs financial statements are not prepared on a timely basis or if financial statements are unreliable, itÔÇÖs normally a ÔÇ£red flagÔÇØ that there are issues with management, the accountant or bookkeeper or possibly serious financial troubles
You can learn a lot from looking at the disclosures made about a company’s board of directors in its annual report, but it takes time and knowledge to pick up clues on the level of quality of a company’s governance.
The term Yellow Book refers to the complete set of Generally Accepted Government Auditing Standards (GAGAS). The standards provide users with a framework for the conduct of audits of all types of government entities and entities that have received awards.
You probably didnÔÇÖt start a nonprofit to stare at spreadsheets and Google things like ÔÇ£how to record an in-kind donation.ÔÇØ But proper accounting (and the analysis it lets you do) is crucial to the survival of your organization.
10 Steps to a Successful Audit. Plan ahead. Stay up-to-date on accounting standards. Assess changes in activities. Learn from the past. Develop a timeline and assign responsibility. Organize data. Ask questions. Perform a self-review.
Starting a nonprofit organization can be an inspiring way to give back to your community and help those in need. However, it is important to understand all of the steps involved in this process before moving forward.
Newsletters are one of the most effective tools for email marketing. Not only do they demonstrate the firm’s technical expertise, but also provides a vehicle for staying in touch with our clients.
Boards are notorious for being less than the sum of their parts. Too often despite each individualÔÇÖs strengths, the group is not very effective. It is worth investing time and effort to ensure your board brings out the best in its members.
Business process management (BPM) is a disciplined approach to identify, design, document, monitor, and control both automated and non-automated business processes to achieve consistent, targeted results aligned with an organization’s strategic goals.