The FAMCare Blog

New Accounting Rules for Nonprofits

Posted by George Ritacco on Jul 6, 2017 9:00:00 AM

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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Topics: Fundraising Ideas, Nonpropfit Accounting

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

Posted by George Ritacco on Jan 27, 2017 1:57:13 PM

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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Topics: Fundraising Ideas, FAMCare Tips and Tools, Implementation Plans, Nonpropfit Accounting, How Clients Use FAMCare, Nonprofit General

Non-Profit is Not Non-Business

Posted by George Ritacco on Oct 18, 2016 9:00:00 AM

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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Topics: Nonpropfit Accounting, Nonprofit General

Nonprofit Accounting Standards Issued

Posted by George Ritacco on Sep 21, 2016 8:00:00 AM

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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Topics: Nonpropfit Accounting

NONPROFIT ACCOUNTING

Posted by George Ritacco on Jun 27, 2016 9:00:00 AM

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

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Topics: Nonpropfit Accounting