I rarely get asked what makes an effective leader. By contrast, I often get asked what makes a great leader. Everything we read talks about being great. One of the best lessons I learned early in my career is that in many cases being effective leader is far more important than being great. The problem…
The new disclosure requirements set by ASU 2016-14 require not-for-profits to do extra work in preparing their financial statements. These disclosures provide the benefit of providing a more transparent perspective of how an organization’s financial picture really looks. ASU 2016-14 requires the following changes to financial statement presentation and disclosures: Net assets are no…
A new accounting standards update (ASU) requires all entities that produce financial statements to make a few changes to their classification and disclosures of restricted cash. These changes have multiple effects on not-for-profits and affordable housing properties, including HUD projects.