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News & Insights: government

Changes to Governmental Fund Accounting are on the Horizon


By Warren Ruppel  |  October 2, 2018

The Governmental Accounting Standards Board (GASB) is considering some important changes to the overall financial reporting model originally introduced for use by governments in GASB Statement 34. This is not a complete rewrite of the current financial reporting model, but rather a focus on several areas where the GASB believes potential changes should be considered. 

The Care Coordination Model: A Path to Managed Care


By Joseph J. Kanjamala  |  October 2, 2018

Managed care is a healthcare delivery system that coordinates the provision, quality and cost of care for its enrolled members. Medicaid managed care provides for the delivery of Medicaid health benefits and related services through contracts between a state and managed care organizations (MCOs).

Internal Control Considerations for Automated Systems in Nonprofit Accounting


October 2, 2018

Automation is an evolving trend that has affected nonprofit accounting departments for many years.

GASB Issues Statement Providing Clarity on In-Substance Defeasance of Debt


October 2, 2018

In May 2017, the Governmental Accounting Standards Board (GASB) issued Statement No. 86, Certain Debt Extinguishment Issues. 

Out with the Old and In with the New Financial Reporting Standards for Nonprofits


By John D'Amico  |  October 2, 2018

It has now been twenty-five years since the Financial Accounting Standards Board (FASB) issued Statement of Financial Accounting Standards (SFAS) No. 117, Financial Statements for Not-for-Profit Organizations

NONPROFIT & GOVERNMENT TIMES, Q3 2018


October 1, 2018

In the latest issue of the Nonprofit & Government Times newsletter, our industry experts provide guidance on industry changes, such as new accounting standards, managed care implementation, automation and cybersecurity.

Introduction to GASB 87 Leases


By Warren Ruppel  |  May 29, 2018

The Financial Accounting Standards Board (FASB) is not the only standard-setting body to address updates to lease accounting procedures. State and local governments and governmental entities need to be aware of a similar standard that was issued by the Governmental Accounting Standards Board (GASB). Similar in concept to the FASB standard (discussed on page 4), GASB 87 Leases contains some significant differences.

What You Need to Know About Pass-Through/Subrecipient Relationships Under the Uniform Guidance


By John D'Amico  |  November 3, 2017

In this article, John D’Amico, Director with our Professional Standards Group, outlines the responsibilities of a pass-through entity under “legacy” OMB Circular guidance, as well as a relatively new rule stemming from the 2014 issuance of the Uniform Guidance.

Ensuring Nonprofit Compliance with the Federal OMB Uniform Guidance and NJ's Circular 15-08 OMB


By John D'Amico  |  March 13, 2017

The federal OMB’s Uniform Guidance requires New Jersey-based nonprofit organizations with fiscal year expenditures greater than $750,000 to have a Single Audit. Organizations that receive new or incremental federal funding either directly from a federal agency or passed-through from the state or a local government after December 24, 2014 need to follow the federal OMB’s Uniform Guidance. For federal grants awarded prior to that date, OMB Circulars (A-110 and A-122 for nonprofits) are still in effect.