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, […]

Government Grants: Contributions or Exchange Transactions?

Do federal and state governments make contributions to nonprofit organizations? Most accountants would say: “No, government departments and agencies may provide grants and other resources to nonprofits to help governments meet their social and other program requirements, but these are not contributions and should not be accounted for as contributions.” But […]

How will Liquidity Disclosures Enhance Financial Reporting for Nonprofit Organizations?

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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 […]

Changes in Financial Reporting for Non-Profit Organizations

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Nonprofit financial reporting standards are not exempt from change. The standards have been updated for organizations’ calendar year 2018 financial statements. Are you ready for the changes? In addition to updating the format of the basic financial statements as discussed in earlier articles, there will be significant changes impacting disclosures in […]

Does the Cost Accounting Standard (CAS) apply to your (sub)contract?

It can be difficult determining whether the Cost Accounting Standard (CAS) applies to your contract or subcontract. We’ve developed this infographic to help you determine whether the CAS applies to you and if a disclosure statement is required. Download PDF | Download PNG Need assistance with the Cost Accounting Standard or any […]

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 […]

Nonprofit Accounting Systems – Federal Grant Requirements

Adeq Acct Sys for Nonprofits w Fed Grants

The Uniform Guidance outlines the requirements for financial reporting systems of nonprofit organizations across several subsections.  However, the requirements included in those subsections can be vague. The following is intended to provide clarity and advice on accounting system selection and design for Federal Award recipients.  The Uniform Guidance includes the following […]

Indirect Rates: 5-Part Webinar Series for Government Contractors

Earlier this year, Rubino’s Paul Calabrese and SYMPAQ’s Chris Brown co-hosted a 5-part GovCon webinar series on indirect rates. Click each part below to access the presentation materials and recordings for that session. Please note: recordings are not available for Part 1 and 2. Part 1: How to Develop DCAA-Compliant Indirect […]

Requirements for an Adequate Accounting System for Government Contractors

The requirements for acceptable government contractor accounting systems are well established and widely known by most contractors. However, we are regularly asked about this topic by small to mid-sized contractors. Most contractors are introduced to these requirements when proposing on cost reimbursable contracts as either a prime contractor or as a […]