News & Events

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. 

Jan. 24, 2018 – Annual Accounting Updates Webinar

Join Strength Matters for our annual “must read” webinar for nonprofit affordable housing CFO’s, COOs and lenders outlining the significant accounting standards that changed in 2017.   Dave Conway of Novogradac will explain and discuss the status of several FASB projects currently in process and what to be planning for in the next year.    Register here for the January 24, 2018 at 2PM (ET) webinar.  https://zoom.us/webinar/register/WN_YPtsAqqVSdqYQSb2c0S1ZA    

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? ...read more

Join Us Dec. 6 – Avoiding Tax Credit Mayhem Round 2: Protecting Your Depreciation Method – The 168(h) Election

Presenter, Dan King of CohnReznick, will discuss the recent Strength Matters publication Avoiding Tax-Exempt Use Property in Credit Deals – The IRC §168(h) Election.

Learning Objectives:

  • Understand how property characterized as tax-exempt use could negatively impact low-income housing tax credit or historic tax credit deals
  • Learn how tax-exempt general partners can use a “blocker” corporation to avoid the taint of a tax-exempt use property and understand the tax consequences
  • Learn about the elections required to use a “blocker” corporation to avoid the taint of the tax-exempt use property
  • Learn about the critical timing considerations for making the elections required to use a “blocker” corporation
  • ...read more

    New Webinar – Nov. 15 – Tax Paper #2 Partnership Allocations for LIHTC Deals – An Introduction to IRC §704(b)

    Presenter, Dan King of CohnReznick, will discuss the recent Strength Matters publication Partnership Allocations for Low-Income Housing Tax Credit Deals – An Introduction to IRC §704(b). 

    Join us on Wednesday, November 15, 2017 2:00-3:00 PM Eastern Time. Register in advance for this webinar here:   https://zoom.us/webinar/register/WN_e0MzHnAhSY2Fc3v1atOyyw

     

    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 info@strengthmatters.com 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: ...read more