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Non-profit Accounting Workshop

Petersen CPAs and South Central Washington Resource Conservation & Development recently held an all day workshop for non-profit and governmental organizations that was a huge success. Petersen...

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Non-profit financial reporting

Non-profits face some unique financial reporting requirements. They have to report on both what the money was spent on (salaries, supplies, utilities, etc.) and what purpose the expenditure served...

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Petersen CPAs’ Peer Review

Petersen CPAs & Advisors recently completed their peer review process and received a clean report: Peer Review 2012

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Planning for Possible Changes in Your Audit Engagement

As you plan for your next financial statement audit, there are changes in auditing standards that may impact your engagement. Statements on Auditing Standards (SAS) Nos. 122-125 (referred to as the...

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Changing standards for leases: What lessees need to know

Off-balance-sheet reporting is one of the most attractive features of operating leases. This treatment and associated bright-line criteria, however, are the source of much criticism. In response,...

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Recognizing Charitable Contributions

Non-profits can receive a wide range of gifts from their supporters.  If you are unsure what documentation the IRS requires for donors to substantiate a tax deduction for their gifts check out an...

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Written Acknowledgement of Charitable Contributions

Taxpayers generally receive two benefits when they provide financial support to a non-profit organization.  The first is the sense of satisfaction from contributing to an organization they believe in....

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