Analyzing Key Financial Indicators: Cash Flow Ratios
December 15, 2020 - Churches must have sufficient cash balances to run their operations. Learn how to analyze different cash flow ratios to provide significant insight for your church, get recommended benchmarks, and more in this article.
Questions Audit Committees Should Consider In the Current Environment
December 11, 2020 - Audit committees face practical challenges in accounting, reporting, and disclosing the impacts of COVID-19. These questions can assist your audit committee in its oversight role and responsibilities to ensure the performance of high-quality audits and transparent and reliable financial reporting
GLBA: Where We Are Now
December 11, 2020 - Many higher education institutions are still struggling to become fully compliant with the Gramm-Leach-Bliley Act (GLBA), but noncompliance could have significant ramifications. Here’s what to consider, and the steps you should take.
What Is the Private Nonprofit Sector Going to Look Like In the New Post-COVID Environment?
December 11, 2020 - Only one thing about COVID-19 seems certain: uncertainty. Here is a look at the specific effects the nonprofit sector is experiencing due to COVID-19, and that organizations need to monitor and adapt to.
“Are We Paying Our Executives Appropriately?”
October 23, 2020 - Executive compensation is an important issue, and COVID-19 has created new considerations. Answering these three questions will help your organization determine if you're paying your executives appropriately.
The Need for Vendor Management: Outsourcing the Support but Not the Oversight
October 16, 2020 - With the growing threat of cyber breaches, it’s crucial to be aware of the risks that vendors can pose to an organization and manage them accordingly.
6 Key Considerations for Budgeting in Changing Times
October 16, 2020 - There is still considerable uncertainty about the global pandemic and its long-term effects, and budgeting effectively when so much is unknown can feel overwhelming. These considerations and steps can help you assess and modify your budget to the new realities we encounter.
FASB Approves Accounting Updates to Presentation and Disclosures by Not-for-Profit Entities for Contributed Nonfinancial Assets
October 15, 2020 - FASB has issued an ASU intended to improve transparency in the reporting of contributed nonfinancial assets, also known as gifts-in-kind, for not-for-profit organizations.
The Ministry of Management
August 19, 2020 - While the word “management” does not appear in Scripture, the functions of management are part of the activities of the gift of administration or governing mentioned in Romans 12 and I Corinthians 12. Guest author Jim Canning shares his insight on the ministry of management and the continual need for skilled people wanting to serve the Lord in this manner.
Reforecasting Your Budget
August 19, 2020 - A static budget remains useful when spending is generally predictable and consistent. But in the current reality of our unprecedented economic and social times, organizations need to understand how to reforecast static budgets so their executive teams can make real-time informed decisions.