by Ryan Foust | Dec 5, 2024 | Accounting
While the fundamentals of accounting are similar across industries, the desired outcome of the accounting function does vary depending on the nature of the organization. Unlike the corporate accounting methods used by for-profit businesses, fund accounting focuses on...
by Ryan Foust | Nov 21, 2024 | Accounting
Church accounting is a specialized form of nonprofit accounting that records and tracks the revenue collected, expenditures incurred, assets purchased, and liabilities incurred for churches and their related entities. For over two decades, our team has focused...
by Ryan Foust | Nov 5, 2024 | Accounting
Similar to other nonprofit organizations, churches must fund their mission while complying with a variety of record keeping requirements and laws. This means that they must keep accurate records of revenue collected, expenditures incurred, assets purchased and...
by Ryan Foust | Jan 28, 2013 | Uncategorized
In short, yes, but there are stipulations. First off, it’s probably best to avoid the use of the term “Super Bowl” as it is protected trademark of the NFL. Secondly, a church should only use equipment that it uses on an ongoing basis for ministry purposes(i.e. don’t...
by Ryan Foust | Aug 3, 2012 | Accounting, Tax
The recognition of volunteer labor as non-cash revenue is dictated by FASB ASC 958-605-25-16, Contributed Services. This standard dictates that if the services (a) create or enhance non-financial assets or (b) require specialized skills, are performed by people with...
Recent Comments