Detroit School Principals Get Accounting Education

It's back to school time for school principals in the Detroit area, where school audits have disclosed embezzlement and mismanagement of funds in schools that haven't been audited in 12 years.

One Detroit school bookkeeper was charged with embezzlement and forgery and has since pleaded guitly to those charges, two others face charges, and more charges are expected to follow as the Wayne County Prosecutor's Office reviews audits from other schools.

School administrators are being provided with emergency training in financial management including how to keep books, what types of records are needed to justify expenses, how to check bank statements, what federal or other earmarked money can be used for, and more.

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Read more from Larry Perry here and in the Today’s World of Audits archive.AU-C Section 800, Special Considerations—Audits of Financial Statements Prepared in Accordance with Special Purpose Frameworks (SPFs),...

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Apr 24
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This material focuses on the principles of accounting for non-profit organizations' revenues. It will include discussions of revenue recognition for cash and non-cash contributions as well as other revenues commonly received by non-profit organizations.
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This material focuses on the principles of accounting for non-profit organizations’ expenses. It will include discussions of functional expense categories, accounting for functional expenses and allocations of joint costs.