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Accounting Standards Updates for Nonprofits When Reporting and Allocating Expenses, Classifying Net Assets and Reporting Board-Designated Assets

In August 2016, the Financial Accounting Standards Board released Accounting Standards Update (ASU) 2016-14 Not-for-Profit Entities (Topic 958): Presentation of Financial Statements of Not-for-Profit Entities. The new update streamlines and simplifies requirements related to several aspects of financial reporting to improve consistency among not-for-profit organizations. Among other changes the following areas draw additional attention: reporting…

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Restricted Assets and How They Affect Non-Profit Organizations

  For some non-profits, contributions from donors are a major source of revenue. Proper accounting for these contributions is key and includes tracking, monitoring and reporting of restricted funds. What type of restrictions can there be in the non-profit industry? Contributions from donors may have temporary or permanent restrictions which limit the use of the…

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Our New PFG Website is Now Live!

Patuxent Financial Group (PFG) is pleased to announce that our new website is now live. The website is a streamlined and responsive interface that provides rapid access to our team of knowledgeable planners and advisors. We are ready to offer guidance regarding investments, the management of estates, insurance policies and more. The mission of PFG is to…

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Non-Profit Seminar Hosted by bgr CPAs

Join us for a seminar detailing the key differences between GAAP and IRC reporting and we will answer the most common questions received from the nonprofit industry. By the end of the seminar you will have a clear understanding of the Form 990 as it relates to: Accounting for Special Events Reporting Board of Directors Reconciliation to…

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Our New Site is Almost Here!

Patuxent Financial Group (PFG) is pleased to announce that our new website will be launching soon. Expect a streamlined and responsive interface that provides rapid access to the critical information your team needs. PFG is a financial planning and advisory firm specializing in financial and estate planning, investment advisory and insurance consulting. The mission of PFG is…

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Kate Vasiliev Named Partner at Berman Goldman & Ribakow LLP

Columbia, Md. (June 26, 2018) –Berman Goldman & Ribakow LLP (bgr CPAs), a Mid-Atlantic regional accounting, audit, tax and consulting firm, today announced the promotion of seven individuals. “These seven outstanding individuals represent extremely diverse professional backgrounds and experiences that further enable our firm to deliver exceptional client service and growth for the firm,” said…

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Is Your Employee Benefit Plan in Compliance?

At bgr CPAs, we are committed to achieving the highest quality and most efficient audits possible with our specialized team of auditors. We have over 20 years of experience in performing employee benefit plan (EBP) audits and we presently audit the plans of over 30 firms. Our team of employee benefit plan auditors stays current…

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Top Questions CPA Firms Receive from Non-Profits

Special Events Why did my special event produce a profit but report a loss on Schedule G of Form 990? Why do I need to identify donor direct benefits from my special event costs? Isn’t the selling price of an event ticket the same as the fair market value of an event ticket? Board of…

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Offit Kurman Breakfast Bar Speaker Series hosted by Linda Ostovitz

How the New Tax Law Impacts Your Business Join us for a presentation on How the New Tax Law Impacts Your Business with Stephen Wolf, CPA, Partner, and David Houston, CPA, MST, Manager with bgr CPAs. DATE April 5, 2018 AGENDA 7:30 – 8:00 AM: Breakfast and Networking 8:00 – 8:30 AM:  Speaker and Questions…

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