When looking at an external set of financial statements sometimes they are consolidated and others are not consolidated.
Consider combined financial statements when the requirement for consolidation does not exist but the result would be more meaningful. This applies to commonly controlled NFPs or entities under common management. Watch this video for information on different fund accounting options and three categories of net assets and net asset disclosures.
Marie C. Caputo, CPA, CGMA, CGFM
- Principal in CliftonLarsonAllen’s Greenbelt, Maryland office
- CliftonLarsonAllen is a national accounting firm with more than 120 offices across the country
- Leader in the firm’s nonprofit practice, which includes more than 7,000 nonprofit clients
- More than 29 years of experience
- Conducts regular presentations and writes articles on topics relevant to the nonprofit industry
- Co-chair of the not-for-profit committee of the Maryland Association of CPAs
- FASB Resource Group member
- Member of relevant professional organizations such as the American Institute of CPAs, American Society of Association Executives and Humentum
- Recognized as a SmartCPA by the Washington SmartCEO magazine
- B.S. degree in accounting, University of Maryland, College Park
- Can be contacted at 301-902-8518 or [email protected]
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