A Comprehensive Guide to Annual Independent Audits for Nonprofits
What is an Annual Audit? An annual independent audit is a thorough review of a nonprofit's financial statements...
Understanding Employee vs. Independent Contractor
When deciding to have someone work for you, it's crucial for businesses to correctly classify them as either...
Program Accounting Made Simple: Tracking Funds for Maximum Transparency
Nonprofits operate on a foundation of trust. Your donors, grant agencies, and the community you serve put faith...
Year-End Done Right: A Bookkeeper’s Guide to a Smooth June 30th Close
For many non-profits, the fiscal year-end on June 30th can feel like a looming storm cloud. But fear...
Beyond HR’s Reach: What HR is NOT
Starting out in human resources at a small but growing company, I quickly realized that there were misconceptions...
Statement of Financial Position or Balance Sheet Analysis (Part 3 of 3 Series)
This article delves into the Analysis of the Balance Sheet, also known as the Statement of Financial Position....
Statement of Activities or Income Statement and Cash Flow Analysis (Part 2 of 3 Series)
Now, let's delve into the analysis of the Statement of Activities, also known as the Income Statement. This...
Horizontal and Vertical Analysis (Part 1 of 3 Series)
Introduction: At the Consonance Group, we recognize the challenges small organizations encounter in financial management. Deciphering and analyzing...