Many companies report financial metrics that don’t conform to U.S. Generally Accepted Accounting Principles (GAAP), such as earnings before interest, taxes, depreciation and amortization (EBITDA), in their business plans and other promotional materials. These figures can sometimes cast a more favorable light on the borrower’s historic and prospective operations than the GAAP figures do. So, do your homework before banking on non-GAAP metrics.
Why Bankers Should Do Their Homework on Non-GAAP Metrics
Posted by bgoricki on Dec 9, 2016 1:34:42 PM
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Topics: Accounting, Commercial Lenders, commerical banking, Financial Reporting, Uncategorized
FASB Announces Biggest Changes in Nonprofit Reporting Since 1993
Posted by jbarnes on Aug 22, 2016 10:39:20 AM
An update released by the Financial Accounting Standards Board (“FASB”) on August 18, 2016 is the first in a set of major changes which will substantially affect all nonprofit entities (“nonprofits”) and users of their financial statements.
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Topics: FASB, Financial Reporting, Nonprofits, Uncategorized
Simplifying the Financial Reporting of Leasing Arrangements
Posted by celliott on Aug 25, 2014 12:21:59 PM
The construction team at Smith & Howard often advises construction clients who have separate, but related, business entities used to buy vehicles, equipment or facilities that they then lease back to their parent company. Earlier in 2014, FASB issued guidance that applies to privately held companies using GAAP providing a way for some construction companies to realize a simpler way to handle the financial reporting of these type of lease/buy-back arrangements.
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Topics: common-control leasing, Construction, FASB, Financial Reporting, GAAP, Uncategorized
Special events can be exciting and are a great way to gain community involvement. With that being said, special events are very stressful to plan. On top of planning – how do you classify your associated revenues and costs? There may be more your nonprofit must do than to simply lump everything together as “fundraising.”
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Topics: Special Events, Contribution, Donors, Financial Reporting, Fundraising, Nonprofit, Statement of Activities, Tax, Transactions, Uncategorized