Comments on: Cost Allocation http://www.notforprofitaccounting.net/2009/10/05/cost-allocation/ Oddly Passionate About Nonprofit Accounting Sat, 31 Jul 2010 15:01:45 +0000 hourly 1 http://wordpress.org/?v=3.0 By: Best of Not-for-Profit Accounting | Not-For-Profit Accounting http://www.notforprofitaccounting.net/2009/10/05/cost-allocation/comment-page-1/#comment-289 Best of Not-for-Profit Accounting | Not-For-Profit Accounting Thu, 12 Nov 2009 15:08:40 +0000 http://www.notforprofitaccounting.net/?p=1306#comment-289 [...] recent post on Cost Allocation has been pretty popular. Allocation is always an issue as we have little guidence on how to do it [...] [...] recent post on Cost Allocation has been pretty popular. Allocation is always an issue as we have little guidence on how to do it [...]

]]> By: A Nonprofit Functional Accounting System | Not-For-Profit Accounting http://www.notforprofitaccounting.net/2009/10/05/cost-allocation/comment-page-1/#comment-275 A Nonprofit Functional Accounting System | Not-For-Profit Accounting Wed, 14 Oct 2009 15:43:06 +0000 http://www.notforprofitaccounting.net/?p=1306#comment-275 [...] For folks who would like the whole article you can click the above link. The other post is on cost allocation, this one is on setting up a functional accounting [...] [...] For folks who would like the whole article you can click the above link. The other post is on cost allocation, this one is on setting up a functional accounting [...]

]]> By: Kelly Rosenleaf http://www.notforprofitaccounting.net/2009/10/05/cost-allocation/comment-page-1/#comment-268 Kelly Rosenleaf Tue, 06 Oct 2009 15:17:42 +0000 http://www.notforprofitaccounting.net/?p=1306#comment-268 This is a good overview of why cost allocation is important and methods for doing so. I would advise that the finance/audit committtee review the cost allocation plan and present it to the Board for Board approval, not just Executive Director/CEO approval. In these times of transparancy and increased scrutiny, this seems prudent. Presumably there are good financial minds on the finance/audit committee (not necessarily all board members). Doing this wrong can lead to many problems with funders, particularly government funders, which then leads to comments in the audit and problems with foundation funders, etc. I concur that it is very much worth the time to find a method that makes sense for an organization and to review and update it periodically as the agency evolves. This is a good overview of why cost allocation is important and methods for doing so. I would advise that the finance/audit committtee review the cost allocation plan and present it to the Board for Board approval, not just Executive Director/CEO approval. In these times of transparancy and increased scrutiny, this seems prudent. Presumably there are good financial minds on the finance/audit committee (not necessarily all board members).

Doing this wrong can lead to many problems with funders, particularly government funders, which then leads to comments in the audit and problems with foundation funders, etc. I concur that it is very much worth the time to find a method that makes sense for an organization and to review and update it periodically as the agency evolves.

]]> By: Nonprofit Cost Allocation | Not-For-Profit Accounting http://www.notforprofitaccounting.net/2009/10/05/cost-allocation/comment-page-1/#comment-267 Nonprofit Cost Allocation | Not-For-Profit Accounting Tue, 06 Oct 2009 03:11:48 +0000 http://www.notforprofitaccounting.net/?p=1306#comment-267 [...] Read­ the o­ri­gi­nal: N­­on­­pr­of­it C­os­t Alloc­ation­­ | N&#173... [...] [...] Read­ the o­ri­gi­nal: N­­on­­pr­of­it C­os­t Alloc­ation­­ | N&#173… [...]

]]> By: Nonprofit Cost Allocation | Not-For-Profit Accounting http://www.notforprofitaccounting.net/2009/10/05/cost-allocation/comment-page-1/#comment-266 Nonprofit Cost Allocation | Not-For-Profit Accounting Mon, 05 Oct 2009 23:04:51 +0000 http://www.notforprofitaccounting.net/?p=1306#comment-266 [...] R­ead­ the or­ig­in­­al her­e:  No­npro­f­it Co­s­t Al­l­o­catio­n | No­t-F­o... [...] [...] R­ead­ the or­ig­in­­al her­e:  No­npro­f­it Co­s­t Al­l­o­catio­n | No­t-F­o… [...]

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