All posts by Pam Williams

Extensive Non Profit Fraud

Non ProfitA recent Washington Post article brought to light numerous instances of fraud by non profit organizations as well as the misuse of Form 990 disclosures. It is believed that over a thousand non profit organizations reported a “diversion” of assets and funds totaling close to $500 million. The losses were attributed to various types of embezzlement, theft, fraudulent investment practices and the unauthorized expenditure of funds. Between 2008 and 2012, ten of the largest non profit companies in the country showed extensive levels of fraudulent activity. Continue reading Extensive Non Profit Fraud

SNF’s will pay for Medicare’s Solvency

Medicare SolvencyAccording to an annual report, the Medicare Part A Trust Fund will be depleted by 2026.  This is a two year improvement over last year’s forecast.  The authors of the report credit the improvement to lower projected spending in most service categories, especially skilled nursing facilities.

Langdon & Company LLP provides services to many long term care providers in the southeast.  In addition to cost report preparation and consultation, services include audit, accounting, financial reporting, tax planning and preparation.

Overview of Possible FASB Changes in Non-Profit Reporting Rules

Non ProfitThe Financial Accounting Standards Board recently evaluated the way in which non-profit organizations record and report their financial information and is seeking to make changes that would enable charities to provide more accurate financial information to the general public.

To start with, FASB board members have created a draft document that can be used as a formal operating measure to evaluate any organization that is set up to serve the public good.

Continue reading Overview of Possible FASB Changes in Non-Profit Reporting Rules