Super Circular Resources

Strength Matters library of resources on Uniform Guidance issues aka the Super Circular, includes: 

  • Uniform Guidance Issues paper 
  • Webinar slides and recording from Scott Seamands of Lindquist, von Husen & Joyce and Kelly Perlman of Plante Moran is available here.
  • Samples of procurement policies to comply with new federal requirements (Sample 1 & 2
  • Template used by a Strength Matters member to track federal grants 
  • more

    New Publication: Practical Implementation Issues with Uniform Guidance

    In December 2013, the Office of Management and Budget (OMB) issued the Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (known to many as the “Super Circular” or the new Uniform Grant Guidance) to streamline and consolidate grants guidance previously contained in numerous documents. These changes will impact all entities receiving and administering federal awards, as well as auditors responsible for auditing federal awards programs. The Super Circular contains the most significant changes to occur to federal grants administration in recent history. more

    Guidance on new and upcoming FASB changes available!

    The new accounting and auditing guidance covers the following topics:

    • Prior updates effective in the current year
    • Goodwill impairment
    • Consolidation guidance for NFPs
    • Definition of a business
    • Going concern
    • Pension costs
    • Uniform guidance (Financial discussion paper on UG available here.)
    • Revenue recognition of grants and contracts
    • Land easements
    • Proposed auditors’ report changes
    • Not-for-Profit Advisory Committee highlights

    Read the paper here and watch the webinar here. 

    Financial Discussion: Elimination of Developer Fees in Consolidation

    The third paper in our Financial Discussion series dives into guidance on eliminating developer fees in consolidated financial reporting. 

    Under current accounting guidelines, developer fees are eliminated when preparing consolidated financial statements. 

    – How should the developer eliminate the profit realized on the developer fees?

    – How should the developer determine the profit and does it matter if the developer fee is deferred?

    – Should only the deferred fee be eliminated and not the fee paid from third party sourced debt and investor equity? more

    New Publication: Real Estate Sales between Related Entities

    The second paper in our Financial Discussion series looks at two questions around the sale of real estate between related entities: 

    • Accounting by Buyer and Seller Upon Disposition/Acquisition of a Property

    • Revenue Recognition for Excess Cash Paid by the Buyer to the Seller Upon Sale

    Covering GAAP analysis of the questions, CPA recommendations and CFO response 

    Read the new Financial Discussion paper

    December Boot Camp in Washington DC

    The next Strength Matters Boot Camp will be in Washington DC as part of NeighWorks Training Institute, between December 11-12, 2017. 

    Register Now

     Email with questions. 

    Strength Matters Boot Camp is designed to provide an overview of the accounting and financial reporting issues faced by a nonprofit housing enterprise. Accounting professionals working in this field require industry-specific information. The course also offers CPE credit. Examples of topics covered in this course: more