The FAMCare Blog

Fostering discussions on industry news, effective data management, improved workflow, morale and funding.

New Accounting Rules for Nonprofits

The Financial Accounting Standards Board is about to issue its first upgrade in nonprofit reporting requirements since 1993.

The FAMCare blog has followed the development of these new reporting guidelines as the information came out of the FASB, and now we can report that they have been finalized. Accounting terminology and reasoning can often be arcane for nonprofit management who prefer to think more in terms of “mission” and “service”, so here is a brief summary that hopefully will make it a little easier to absorb the accounting lingo and logic.

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July 06 ,2017

Budgeting Brilliance:  Budget Tips For Your Next I.T. Project

IT investments are crucial for any organization, but they cannot succeed without careful budgeting. To avoid common mistakes and place your initiatives on a firm financial foundation, make sure to:

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January 27 ,2017

Non-Profit is Not Non-Business

Non-Profit Is Not Non-Business...

As we work with nonprofit accounting departments helping to install the FAMCare Cost Tracking/Financial Module, we are noticing a notional bias that seems to pervade the entire industry and prevents nonprofit organizations from operating efficiently from a financial perspective.

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October 18 ,2016

Nonprofit Accounting Standards Issued

A few months back our accounting specialists previewed the new FASB directives that were being finalized for nonprofits. Well, the new FASB standards have finally been issued and below is a brief summary of what they are all about.

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September 21 ,2016

NONPROFIT ACCOUNTING

Question - Do nonprofit accounting standards serve to clarify a nonprofit’s financial condition, or rather to obscure it?

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June 27 ,2016

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