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Category: Audit and Assurance

July 23, 2020

Dan Weaver, Judy Barnhard and Tony Cuozzo to Present at the 2020 GWSCPA Nonprofit Symposium

CBM’s Director of Not-for-Profit Services Dan Weaver, Senior Vice President Judy Barnhard, and Senior Advisor Tony Cuozzo are scheduled to present at the 2020 Greater Washington Society of CPAs’ (GWSCPA) Nonprofit Symposium from Monday, December 14 through Wednesday, December 16. The Symposium is an annual two-day event that delivers networking and professional education opportunities for hundreds of financial professionals in the not-for-profit sector throughout the Washington, DC metropolitan region. Due to COVID-19, this year’s Symposium will be held virtually. Mr…. Read more ›

November 19, 2018

CBM to Present at 2018 GWSCPA Not-for-Profit Symposium

This photo, published after symposium, shows Dan Weaver (Right) and Julia Lafferty (Middle), CBM’s presenters at the 2018 Symposium, with Principal Mollie Lambert. November 19, 2018 (Bethesda, MD & Washington, DC) – Daniel L. Weaver, CPA, Anthony A. Cuozzo, Jr., CPA, CGFM, and Julia Lafferty, CPA, respectively senior vice president/director of not-for-profit services, senior advisor and nonprofit principal at Councilor, Buchanan & Mitchell, P.C. (CBM), will present at the Greater Washington Society of CPAs’ 2018 Nonprofit Symposium. The conference, which draws together… Read more ›

May 19, 2016

Collaborative Activities: Are You Reporting Them Correctly?

More and more nonprofits are joining forces to better serve their client populations and cut costs. But such relationships can come with complicated financial reporting obligations. Your organization’s reporting requirements will depend on the type of relationship you enter. Collaborative arrangements The simplest relationship between nonprofits for accounting purposes may be a collaborative arrangement. These are typically contractual agreements in which two or more organizations are active participants in a joint operating activity. And both are vulnerable to significant risks… Read more ›

January 21, 2016

Compilations, Review & Audits: Not All Financial Statement Preparation is the Same

Do you know the differences between financial compilations, reviews and audits? CPAs engage in all three types of financial statement reporting for auto dealerships and other businesses. But each endeavor has its own level of requirements, depth and outcomes. It’s important to understand that, depending on the level of assurance selected, CPAs perform procedures of varying degrees of complexity when evaluating a company’s assets, liabilities, revenues and expenses. Here are descriptions of the three main types of CPA engagements. Sticking… Read more ›

August 21, 2014

Do’s & Don’ts for Deducting Meals, Entertainment & Travel

If you are claiming a deduction for meals, entertainment, auto or travel expenses, expect the IRS to closely review it. Too often, taxpayers have incomplete documentation or try to re-create records months (or years) later. In doing so, they often fail to meet the strict substantiation requirements set forth under tax law and by the IRS. Tax auditors are adept at rooting out inconsistencies, omissions and errors in taxpayers’ records, as illustrated by a recent U.S. Tax Court case. (Crawford… Read more ›