Tag Archive for Audit

Functional Expense Reporting for New England Non-Profits

Functional Expense Reporting provides donors, funders and the general public with meaningful information about the types of programs and activities carried out by an organization.

The importance placed on functional expense classification makes this an important audit issue.

To help your organization strengthen its reporting, we invite you to watch this recorded webinar, Functional Expense Reporting for New England Non-profits, presented by Michelle Hatch, CPA, Partner, Non-Profit Services Group, BlumShapiro. It’s a behind-the-scenes look at Functional Expense Reporting – what it takes to do it well and how it helps position your organization for ongoing success.

The webinar covers topics such as:

  • How do I meet Functional Expense Reporting requirements?
  • How do I meet my internal reporting, funder, board and FER? How do they co-exist?
  • How can I best accomplish FER in accounting systems without using Excel spreadsheets?
  • What are some of the desired methodologies for allocating key costs?

Click here to view: Functional Expense Reporting for New England Nonprofits

A New Look to Your Non-Profit’s Financial Statements

There are currently some changes in the works for the non-profit financial reporting model. The proposed changes, currently being developed by the Not-For-Profit Advisory Committee of the Financial Accounting Standards Board, aims at improving net asset classification requirements as well as disclosure information provided to the reader.

Recently, Marcus Harwood, Partner at BlumShapiro, provided some relevant information about these proposed changes and the current status of the initiative. Read Marcus’ article here.

Jeanne Pagnozzi Boston AccountantJeanne Pagnozzi is a manager in BlumShapiro’s Accounting and Auditing Department, based in Quincy, Massachusetts, Jeanne oversees attest and tax engagements and is responsible for engagement planning, staff supervision and coordination with client personnel to ensure successful completion of projects.