Asbestos Contamination: Governance and Financial Reporting Issues in the Public, Private and Not‐for‐profit Sectors

2021 ◽  
Author(s):  
Warren McGregor ◽  
Brad Potter ◽  
Naomi Soderstrom ◽  
Kevin Stevenson
Keyword(s):  
Financial Reporting ◽  
The Public ◽  
For Profit ◽  
Not For Profit ◽  
Asbestos Contamination

scholarly journals Effective Internal Controls for Not-For Profit Entities

2020 ◽  
pp. 47-58
Author(s):  
Achraf Seyam, CPA ◽  
Barry Copper, CPA
Keyword(s):  
Financial Reporting ◽  
Internal Control ◽  
Continuous Monitoring ◽  
Internal Controls ◽  
Professional Services ◽  
Non Profit ◽  
The Public ◽  
For Profit ◽  
Not For Profit ◽  
Non Profit Organizations

The importance of internal control is clear. Effective internal control makes sure non-profit organizations to carried out their mission and objectives, such as proper use of funds and provide professional services to the public without any risk of fraud and mismanagement or breach of ethics. Through continuous monitoring of non-profit’s performance and activities, internal controls dispose of the behaviors of non-profit organizations with their objectives. Internal controls also engaged in good management and make sure to provide appropriate financial reporting by providing accurate and complete reports to the management in a timely manner and make sure the sources are correctly allocated. Internal control is also the tool to safeguard assets that make sure the organizations physical and intangible assets are protected from fraud, misused, and error. Internal control is not only able to deter and detect fraud and error but also is able to reduce the chance to risks.

scholarly journals FASB's Not-for-Profit Financial Reporting Project: Analysis of Letters to ASU 2016-14 Exposure Draft

2020 ◽  
Vol 9 (1) ◽  
pp. 45-75
Author(s):  
Donald R. Deis ◽  
Arpita Shroff
Keyword(s):  
Financial Reporting ◽  
Phase 1 ◽  
Accounting Standards ◽  
Data Availability ◽  
Financial Accounting ◽  
Financial Accounting Standards Board ◽  
Accounting Standard ◽  
The Public ◽  
For Profit ◽  
Not For Profit

ABSTRACT In 2015, the Financial Accounting Standards Board (FASB) issued an Exposure Draft (ED) as part of its first significant project in over 20 years on financial reporting by Not-for-Profit organizations (NFP). In this study, we categorize the 264 letters received on the ED by the type of respondent and analyze the responses using ANOVA, multiple comparisons tests, and multidimensional scaling. Ultimately, as Phase 1 of its NFP project, FASB issued accounting standards update (ASU) 2016-14 containing proposed changes supported by a majority of the respondents to the ED. The Board deferred recommended changes with less support from respondents to Phase 2 of the project. Although constituents often accuse accounting standard setters of standards-overload and for being unresponsive to their comments (Herz 2003), our findings indicate otherwise. Data Availability: Data are available from the public sources cited in the text. JEL Classifications: G00; L31; M40.

THE INCEPTION AND EVOLUTION OF FINANCIAL REPORTING IN THE PROTESTANT EPISCOPAL CHURCH IN THE UNITED STATES OF AMERICA

1986 ◽  
Vol 13 (2) ◽  
pp. 55-63 ◽  
Author(s):  
G. A. Swanson ◽  
John C. Gardner
Keyword(s):  
United States ◽  
Financial Reporting ◽  
United States Of America ◽  
The United States ◽  
Episcopal Church ◽  
For Profit ◽  
Not For Profit ◽  
The Church

This research documents the emergence of accounting procedures and concepts in a centrally controlled not-for-profit organization during a period of change and consolidation. The evolution of accounting as prescribed by the General Canons is identified and its implementation throughout the church conferences is examined.

Artificially making Lifeform

2021 ◽  
Vol 9 (10) ◽  
pp. 1290-1295
Author(s):  
Souvik Das
Keyword(s):  
Medical Community ◽  
Programming Algorithm ◽  
The Public ◽  
For Profit ◽  
Not For Profit ◽  
Funding Agencies ◽  
Proper Definition ◽  
Inanimate Matter ◽  
Living Organisms ◽  
Definition Of

Abstract: The word ‘life’ is a mysterious word with a chart of attributes that have neither been completed nor has been agreed upon by the race of humans. Probably the proper definition of life is impossible to identify for humans (the proof for this claim is given later) but the handbook to the secret shall be updated till the end, thanks to the inquisitive attitude of humans. For this piece, we shall adopt the description from the professional medical community of today. Though this topic falls midway between science and philosophy, this project is strictly technical. To quote dictionary.com, Life is the condition that distinguishes organisms from inorganic objects and dead organisms, being manifested by growth through metabolism, reproduction and the power of adaptation to environment- through changes originating internally; cambridge.com teaches Life is the period between birth and death, or the experience or state of being alive; medicaldictionary.thefreedictionary.com states Life is the property or quality that distinguishes living organisms from dead organisms and inanimate matter, manifested in functions such as metabolism, growth, reproduction and response to stimuli or adaptation to the environment originating from within the organisms. There are several other definitions but to summarize, we can safely state that though the concept is somewhat vague, we could indeed point out some common principles. We shall, in this project, try to replicate the characteristics so as to attain life in medical terms. (The order does not base upon importance of the listed character since the characters, all of them are absolute essentials and cannot possibly be categorized as more or less important). 1) Metabolism 2) Growth 3) Adaptability 4) Birth 5) Death 6) Self-stimulated response to environment 7) Reproduction 8) Can sustain self without foreign intervention Keywords: artificial, life, intelligence, computer, programming, algorithm This research did not receive any specific grant from funding agencies in the public, commercial, or not-for-profit sectors.

Animal Spirits or Engaging Spirits?

2017 ◽  
pp. 223-250 ◽  
Author(s):  
Angela Besana
Keyword(s):  
Cluster Analysis ◽  
Welfare State ◽  
Social Economy ◽  
Public Welfare ◽  
Accounting Data ◽  
The Public ◽  
For Profit ◽  
Not For Profit ◽  
The Social

After having discussed the contemporary importance of the not-for-profit and social economy, the chapter builds on a cluster analysis of performances and roles of grant-making foundations, who are the essential node of the cooperation and coopetitiveness, today. This chapter aims to present worldwide grant-making foundations for their performances and profiling according to the latest accounting data and mission reports, which collect results of their projects according to the classification of pure grant-making, networking, leadership, partnership and pooling. With this in mind, the chapter adopts a typical approach of cluster analysis of industrial organization. The cluster analysis emphasizes the profiling of the sample and it allows to separate groups with significant features. The main focus remains on the issues of the finance of the social economy, when the Public Welfare State is too much indebted. Complementary and substitute roles of the Private Welfare State can emerge for the support the not-for-profit economy.

The Night Ministry: Facing the Loss of a Founder

2017 ◽  
pp. 1-9
Author(s):  
Anne Cohn Donnelly ◽  
Sara Lo
Keyword(s):  
Vice President ◽  
Senior Management ◽  
Phone Call ◽  
The Public ◽  
For Profit ◽  
Succession Plan ◽  
Senior Vice President ◽  
Not For Profit ◽  
Near Term ◽  
Major Donors

Paul Hamann was senior vice president of The Night Ministry, a Chicago-based not-for-profit organization. In October 2003 he received a phone call from the wife of the Reverend Tom Behrens, the founding president and the public face of the organization. She told Hamann that Behrens had suffered a massive stroke and that doctors were unsure of his prognosis. Behrens had been walking the streets of run-down Chicago neighborhoods since 1976, looking for people in despair, listening to their needs, and offering them a helping hand and a consoling presence. In the intervening twenty-seven years, he had built The Night Ministry into a well-known organization that helped thousands of adults and youth every year. No succession plan, if one existed, had ever been conveyed to senior management. Now Hamann was unsure when or even if Behrens would be able to work again. If Behrens returned to work, would he be able to continue to lead the organization? If not, who would lead The Night Ministry going forward, even if it were just for the near term, and who would make that decision? How would the community and major donors react to a new leader?Understand Founder's Syndrome and why it is unique to the nonprofit industry

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