Accounting for Your Volunteers, Literally!

| Audit and Accounting

By Tyler Kleinschmidt     Not-for-profit entities rely heavily on volunteers and a variety of contributed goods and services to fulfill their mission. The Financial Accounting Standards Board (“FASB”), which sets the rules regarding accounting and financial reporting, outlines criteria that govern whether or not a contributed service should be recognized in the financial statements.  However, there is still debate as to whether these guidelines allow for the most accurate reflection of the Read more [...]