Are You Ready for Changes in Financial Reporting for Nonprofit Organizations?

New financial reporting standards for nonprofit organizations (ASU 2016-14) are effective for their calendar year end 2018 financial statements.  Are you ready for the changes? Changes to the basic financial statements are straightforward, reducing the number of net asset classes from three to two (With Donor Restrictions and Without Donor Restriction). […]

Patrick Curtis Accepted to Leadership Howard County’s Leadership Premier Class of 2019

Patrick Curtis portrait

Rubino & Company is pleased to announce that shareholder Patrick Curtis has been accepted into Leadership Howard County’s Leadership Premier class of 2019. Leadership Howard County, a non-profit based out of Columbia, Maryland, prepares accomplished professionals from business, non-profit, and government to become innovative community leaders dedicated to making Howard County, […]

How will Liquidity Disclosures Enhance Financial Reporting for Nonprofit Organizations?

Image: Businessmen or investors reviewing return on investment on a tablet mobile device

Accounting Standards Update (ASU) 2016-14 is effective for fiscal years beginning after December 15, 2017 (i.e., calendar year 2018 or fiscal year 2018/2019). The new ASU impacts many aspects of financial reporting for nonprofit organizations, with updates to the basic financial statements and several new and/or enhanced disclosures required in the […]

New Accounting Guidance for Contributions and Government Grants

The Financial Accounting Standards Board (FASB) has issued Accounting Standards Update (ASU) 2018-08 to provide accounting guidance for contributions received and contributions made. The ASU will help clients and practitioners in evaluating whether transactions should be accounted for as contributions (nonreciprocal) transactions or as exchange (reciprocal) transactions. This will hopefully help […]

Cost Accounting Standards – Awareness is the Key to Success

Cost Accounting Standards graphic

Although almost all small to mid-sized government contractors have heard about the Cost Accounting Standards (CAS), many lack a complete understanding of the standards and the relevance to, and potential impact on, their business.  As a leading accounting service provider (audit, tax, compliance, and outsourcing) for small to mid-sized government contractors […]