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LESSONS LEARNED FROM IMPLEMENTING ASU 2016-14 FUNCTIONAL EXPENSES

Nonprofit organizations with calendar year ends are working to implement the provisions of Accounting Standards Update (ASU) 2016-14, Not-for-Profit Entities (Topic 958): Presentation of Financial Statements of Not-for-Profit Entities. The ASU is effective for annual financial statements issued for fiscal years beginning after Dec. 15, 2017. Specifics of the requirements of the ASU have been Read More…

GASB SIMPLIFIES ACCOUNTING FOR CAPITALIZED INTEREST

The Governmental Accounting Standards Board (GASB) Statement No. 89 (Statement), Accounting for Interest Cost Incurred before the End of a Construction Period, which is effective for reporting periods beginning after Dec. 15, 2019, brings a welcome relief to state and local governments by eliminating complex capitalized interest calculations. Under this Statement, for financial statements prepared using Read More…

WHO NEEDS A BUSINESS VALUATION?

Business Valuations Do you know what your business is worth? If you’re like many business owners, the answer to this question is probably “no.” That’s because business valuations can be both time-consuming and costly. Even so, there are many instances when it’s important to determine the value of your company. Selling. Anyone considering selling a business Read More…

BKC CARES COLLECTIONS COMPLETED FOR THE SEASON

Thank you to everyone who contributed to our numerous “BKC Cares” charitable donation campaigns over the winter season.   We recently delivered our Code Blue collection of winter coats for the homeless in Salem County, NJ.  Read more about that collection here. Other collections include Holiday Gifts for the Hunterdon County United Way Holiday Hands initiative Read More…

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