Non-profits are increasingly joining forces to better serve their clients and cut costs, but such relationships can come with complicated financial reporting obligations. Starting with the simplest For accounting purposes, the simplest relationship between non-profits may be a collaborative arrangement. These are typically contractual agreements in which...
Is business going so well that you are thinking about adding another location? If this is the case, congratulations! Before you start planning the ribbon-cutting ceremony, however, take a step back and ask yourself some tough questions about whether a new location will grow your...
The College Board reports that the average published charges for tuition, fees, room, and board at private, non-profit, four-year schools were more than $45,000 in the 2016–2017 academic year. At public universities, the average charge was around $20,000 for state residents. Both numbers are the...
Now that Affordable Care Act (ACA) repeal and replacement efforts appear to have collapsed, at least for the time being, it is a good time for a refresher on the tax penalty the ACA imposes on individuals who fail to have “minimum essential” health insurance...
Procurement fraud is pervasive in businesses, whether by dishonest vendors, a company’s own staff, or both. Kickbacks, short deliveries, and other scams are all perpetrated through purchasing departments. Here is how to identify and prevent it from happening again. What it looks like When procurement fraud involves...
For years, private companies and their stakeholders have complained that the Financial Accounting Standards Board (FASB) catered too much to large, public companies and ignored the needs of smaller, privately held organizations that have less complex financial reporting issues. In other words, they have said...
Employers with 20 or more employees are generally required to offer continuing health care coverage to departing staff members under the Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA). The employer also must notify employees of the availability of COBRA coverage. Assuming your organization must comply...
It was a great evening for a great cause! #KPMCPAs again sponsored this year's Ozark Empire Fair Foundation's Gold Buckle Gala! We always look forward to this fun event because its primary purpose is to support youth in agriculture; recognizing the efforts of #SWMO 4-H...
The federal Small Business Administration reports that about 75 percent of small business owners donate some portion of their profits to charity each year. The average contribution is around six percent of earnings. Fulfilling philanthropic intentions has emotional rewards, and there also can be tangible...
