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Our Insights

Our Insights

Our Partners & Staff write about governmental & nonprofit services, employee benefit plan audits & schools. We share our insights with our blog  articles and white papers.

Make sure you check out our blog and white papers on a regular basis. They’re guaranteed to stimulate and challenge you!

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  • GASB
  • Governmental Updates
  • Messages From Our Managing Partner
  • Nonprofits
  • Politics
  • Schools
  • Tax

Managing Partner’s Message – January 2019

The New Year has arrived and with it comes new resolutions and renewals of past commitments. Our fall season was quite robust as we worked through the implementation of the new government accounting standards for reporting other post-employment benefits (OPEB)….

Managing Partner’s Message – September 2018

Summer is over and school has started across our region. The start of school for the students also marks the start of school audits for our audit teams. There is always an exciting buzz around this audit season as we…

Six Challenges Nonprofit Executives Are Facing

Six Challenges Nonprofit Executives Are Facing By Steven N. Kutsuflakis, CPA Nonprofits have made headlines concerning challenges brought on by new federal rules on overtime pay, deferred compensation and new accounting standards for charities. Keeping up compliance with the various…

Understanding the Changes to Unrelated Business Income

Understanding the Changes to Unrelated Business Income By Jeffrey A. Kowalczyk, CPA, CFE, CGAP While most nonprofits are tax exempt, that doesn’t mean they won’t pay business income tax.  When nonprofits generate income from unrelated activities, the activities can be…

Managing Partner’s Message – April 2018

Spring has finally arrived both within and beyond the borders of our firm. Internally, we marked the passing of another Department of Community and Economic Development (DCED) deadline for audit reports as well as the three month mark of the…

Comment on the Governmental Accounting Standards Board’s (GASB) Revenue and Expense Recognition Project, No. 4-6I

Barbacane, Thornton & Company LLP 200 Springer Building 3411 Silverside Road Wilmington, Delaware 19810 T 302.478.8940 F 302.468.4001 April 24, 2018 Via electronic mail Governmental Accounting Standards Board 401 Merritt 7 PO Box 5116 Norwalk, CT 06856-5116 RE: Revenue…

Auditors Need to Be Up to Speed on Local Politics

The auditing profession has gotten used to the need to adjust due to rapidly changing regulations and standards. One factor, though, that may not immediately jump to mind as an issue to monitor is the impact of local politics. In…

The PPC Governmental Update – March 2018

Tax Cuts and Jobs Act Impact on State and Local Governments The recently signed Tax Cuts and Jobs Act of 2077 brings about many changes to the rules on taxation of individual taxpayers for tax years through 2025, including establishing…

Revised Financial Reporting Requirements for Charitable Organizations Now Law

This is a wonderful article by Peter Calcara, Vice President, government relations of the PICPA. On Dec. 22, 2017, Gov. Tom Wolf signed into law much needed changes to the Pennsylvania Solicitation of Funds for Charitable Purposes Act, which has…

Podcast: E-filing Now Mandatory for Municipal Authority and Authority Nonprofit Reports

The Pennsylvania Department of Community and Economic Development (DCED) now requires municipal authorities and authority nonprofits to file their annual reports online. Karen O’Neill, local government policy specialist with the DCED, provides more details on the entities this impacts and…