Accounting & Assurance

State and local governments are exposed to a variety of risks related to certain concentrations, constraints, or events that could impact or even negatively affect operations.  Previously, exposure to…

Business owners operating in the state of Pennsylvania have historically been required to file a report with Department of State every 10 years.    However, beginning in 2025, most domestic and foreign…

Beginning in 2025, Pennsylvania non-profit corporations and other non-profits registered in Pennsylvania will now be required to file an annual report with the Pennsylvania Department of State.  In November…

In 1999, the Government Accounting Standards Board (“GASB”) issued Statement No. 34, Basic Financial Statements – and Management’s Discussion and Analysis – for State and Local Governments. …

By: Cristopher Sefransky, CPA, CFE, LSSGB Our industry is well over a year into implementation of the transitional guidance in Financial Accounting Standards Board (“FASB”) Accounting Standards Update…

By: Cristopher Sefransky, CPA, CFE, LSSGB Government grants are a critical source of support revenue for nonprofit organizations.  Grant awards exist for a multitude of different types of organizations…

N.J. Governor Murphy signed legislation that effective immediately raises the threshold at which a nonprofit must undergo an audit from $500,000 to $1 million in gross revenues. It also provides that in-kind…

Is your company prepared to implement the upcoming Revenue Recognition changes or the new Lease Accounting Standards? We have prepared a memo to familiarize you with the guidance from the Financial Accounting…