It’s important for every church financial leader to ask these four key questions to understand the new liquidity disclosures under ASU 2016-14.
Author Archives for Richard Lindley
About Richard Lindley
Richard has managed audit, review, and compilation engagements for more than 20 years and provides church and other nonprofit consulting services in a variety of areas. He is a member of the firm’s Church and Denominational Team and helped draft the CapinCrouse Church Financial Health Index™ and CapinCrouse Church Checkup™ and related reports. Richard frequently authors church articles. He also serves as his church’s finance ministry leader.
What Christian schools should consider about the additional qualitative or non-numerical disclosures required by ASU 2016-14, plus best practices for cash and liquidity management.
A look at the additional disclosures related to liquidity and availability under ASU 2016-14, and what Christian schools should consider as they plan for this significant implementation.
Further insight on ASU 2016-14 for churches, with a focus on reconciling liquidity to net assets without donor restrictions.
Even churches that don’t issue external financial statements should have a written cash management policy that could have content and attributes similar to these new qualitative disclosure requirements.
We’ve received a number of questions from church clients about the additional disclosures related to liquidity and availability. Here a look at the requirements and what your church should consider as you plan for this significant implementation.
Setting your church fiscal year-end at a month-end other than December 31 could provide several advantages, but it also could pose several disadvantages. Start by considering both.
If your church uses a fiscal year-end of December 31, you may want to consider changing it. A fiscal year change would not result in tax consequences for either your church or your donors, and it could provide several advantages.
How does your church compare with similar churches? What financial issues should you monitor, and how? This article explores a few of the measurements and ratios that will help you assess your financial health and identify areas for improvement.