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In the Zone: Not-for-Profit Accounting
January 6, 2010    
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2009: The Year in Review
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Editor's Note
New, or relatively new, Form 990 is still providing headaches and thrills to NFP accountants. Meanwhile, the IRS has some new guidance for nonprofits, and we have some tips for attracting fresh blood to the boards of nonprofits.

As always, we welcome your questions, comments, suggestions on our site or by e-mail.

Best wishes,
Gail Perry, CPA
Managing Editor
2009: The Year in Review
2009: The Year in Review
What were the stories that affected your accounting life in 2009? AccountingWEB's Year In Review wrap up summarizes the year's top accounting news, including the requirement for tax preparers to e-file, pending legislation for mandatory retirement plans, Cash for Refrigerators, tax rules for cell phones, tax- and accounting-related celebrity gossip, and more.
The new Form 990: Governance and internal controls under the microscope
It's been almost a year since the release of the "new" Form 990 instructions, yet many public charities are just now wrestling with its broader disclosure requirements. Most agree that the most significant difference between the old and new forms can be found in the areas of governance and internal controls including document retention, conflicts of interest, and compensation.
Board recruitment: How to attract younger members
Where are all the young people? Forget the myth that they are not civically minded. You will likely find many young people volunteering on committees or assisting with events and fundraisers. But the idea of serving on a board may not have occurred to them, or they aren’t sure if they have the skills or time to serve effectively.
AccountingWEB's US Business Forums is primarily for your business clients. Give them this gift and get yet another feather in your cap! Click here to send the USBF link and introductory note to your clients.
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User fees increase for exempt organization exemption applications
User fees will increase for all applications for exemption (Forms 1023, 1024, and 1028) postmarked after January 3, 2010:
New guide provides information for tax-exempt organizations
The IRS recently published a new compliance guide for tax exempt organizations other than 501(c)(3) public charities, private foundations, and Section 527 political organizations.
Blog: Special Internal Control Issues for Small Entities
Auditing standards encourage a "top down" approach to understanding an entity's internal control, i.e. focusing on key controls first. The design and operation of key controls, of course, can prevent risks of material misstatement from occurring and going undetected. Auditing standards also recognize such controls can be informal and operated by one or a few persons in smaller entities.
Blog: Friday Accounting Ethics Case - Proper Use of Grant Funding
This week's ethics case is focused on evaluating the proper use of grant funding and expenditures during the course of an audit engagement. Evaluating the appropriateness of an expenditure under a government or private grant can be subjective in nature and professional skepticism can create a situation where the auditor and the client may not agree on the propriety of a grant expenditure.
Kaplan Weekly Quiz
Kaplan Are you prepared for the CPA exam? Test your knowledge and keep your skills sharp by taking the weekly CPA Exam Quiz, brought to you by Kaplan Schweser CPA Review and AccountingWEB Education & Careers Zone. New questions will be posted for each section weekly. Take this week's quiz.
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