Here are some more nonprofit accounting and financial questions that have come to from and from my workshops and my answers.
Question – Should the donor know?
I am curious to know if FASB 116 or FASB 117 prohibit the use of endowment as collateral against a line of credit without donor’s acknowledgment or knowledge of [...]
Posts Tagged ‘SAS rules’
More Questions and Answers
SAS 61, 112 and 114
Statement of Accounting Standards 112
SAS 112 goes into effect / becomes effective for periods ending on or after 12-15-06. I have mentioned in recent trainings that auditors will soon be looking more closely at your internal controls. With this new standard they are now obliged to report any deficiencies to your board and in the [...]
