Financial Archives - Christian Management Association Christian Management Association

Posts Tagged Financial

New Standard Aims to Improve Not-for-Profit Financial Reporting

Posted by CMANATIONAL on November 3, 2017

ASU 2016-14 Replaces the Reporting Model That Has Existed for 20 Years by AICPA Not-for-Profit Section Published August 18, 2016 After more than three years of debate, comment, and revision, the Financial Accounting Standards Board’s (FASB) much-anticipated Accounting Standards Update (ASU) 2016-14, Presentation of Financial Statements of Not-for-Profit Entities, was released on August 18, 2016. The […]

Continue Reading →

Tags: Financial

Posted in: News

Leave a Comment (0) →

Borrowing and the Church

Posted by CMANATIONAL on July 3, 2017

Borrowing money has become a way of life for many. And credit use raises more than a few questions: what does the Bible say about money? Does church financing have a place in building the kingdom? What does Scripture say? The truth is that Scripture says a lot about money and decision-making. Believers are not […]

Continue Reading →

Tags: Barrowing, Finance, Financial

Posted in: Bits & Pieces

Leave a Comment (0) →

Change in Accounting Period

Posted by CMANATIONAL on June 3, 2016

When an organization first incorporates to begin operations one of the things it must do is establish with the Internal Revenue Service (IRS) what the fiscal year of the corporation will be. For many organizations setting the fiscal year to coincide with the calendar year (e.g. January 1 through December 31) may be the appropriate […]

Continue Reading →

Tags: Accounting, Financial, Fiscal Year, IRS

Posted in: News

Leave a Comment (0) →

Fiduciary Responsibilities of the Board of Directors

Posted by CMANATIONAL on July 5, 2014

One of the main responsibilities of board members is to maintain financial accountability of the organization. Board members act as trustees of the organization’s assets and must exercise due diligence to oversee that the organization is well-managed and that its financial situation remains sound. What does fiduciary mean? Fiduciary duty requires board members to stay […]

Continue Reading →

Tags: Assets, Board, Fiduciary, Financial

Posted in: News

Leave a Comment (0) →