2 Accounting Issues You Need to Understand
They go beyond simple workday calculations to the very heart of your fundraising.
The acknowledgment that some expenses fit into more than one bucket is called joint cost allocation. The American Institute of Certified Public Accountants (AICPA) in its Statement of Position 98-2 developed guidelines to help nonprofits determine which expenses fall into which buckets based on the content of the activity, the purpose of the activity and the audience targeted.
Tom Harrison is the former chair of Russ Reid and Omnicom's Nonprofit Group of Agencies. He served as chair of the NonProfit PRO Editorial Advisory Board.
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