OMB Releases Pre-Publication of Final Guidance on Federal Financial Assistance
In its most substantial update to the guidance since December 2014, the Office of Management and Budget (OMB) has submitted final guidance on Federal Financial Assistance for publication in the Federal Register. Recipients of federal funding through grants, contracts, and cooperative agreements should review the new guidance and reexamine their internal policies and procedures to…
Greenhouse Gas Emissions: Understanding and Reporting on Scopes 1, 2, and 3
Many organizations are actively working to diminish their greenhouse gas (GHG) emissions. When tracking and reporting progress, the terms ‘Scopes 1, 2, and 3 emissions’ are frequently used. But what do these designations mean? Scopes 1, 2, and 3 Defined The ‘scopes’ for reporting come from the Greenhouse Gas Protocol (GHG Protocol), an international organization…
Compliance Tips & Tools for 8(a) and Small Business Government Contractors
If you are a small business or an 8(a) contractor, U.S. Government compliance requirements can seem overwhelming. We’ve got you covered! Join our accounting and contracting experts for real-world tips and recommendations to help you with your financial reporting. We’ll provide an overview of requirements for both 8(a) government contractors, plus requirements for other small…
Mastering Your Statement of Functional Expenses
A statement of functional expenses is fundamental to nonprofit accounting. While providing a comprehensive breakdown of your expenditures, a functional expense statement also helps to enhance the accuracy and transparency of your nonprofit financial reporting. Not to mention, failure to accurately report functional expenses on your Form 990 could put your organization’s nonprofit status in…