FASB’s New Standard Aims to Improve Not-for-Profit Financial Reporting

May 19, 2017 | Auditing, Non-Profit Accounting, RECENT POST

In August, 2016, the Financial Accounting Standards Board (FASB) launched new reporting standards for Non-for-Profit Entities that will be effective for 2018 calendar year-ends or 2019 fiscal year ends. It is important to be familiar with the requirements ahead of time, but we are not recommending early-adoption, since you have to implement the entire standard.  Please call Schutte & Hilgendorf, CPAs with questions about the new standard and implementation.

Click on the link for a summary of the requirements:


New Non-for-Profit Reporting Standards


Schutte & Hilgendorf offers a broad range of professional accounting, tax, and audit services to individuals and businesses throughout Yavapai County and Northern Arizona.   With over 40 years combined certified public accounting experience, we specialize in providing services to numerous industry specific areas, including non-profit organizations, homeowner’s associations and construction contracting.  We also provide tax planning and preparation, sales tax and payroll tax return preparation, ongoing accounting/bookkeeping, live payroll, and QuickBooks setup and training (QuickBooks Proadvisors).  Given our small size, we can still provide a personal touch with professional expertise. Come in and see us anytime at 2086 Willow Creek Road, Prescott, Arizona or call us at 928-778-0079.

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Specialized Company

 We specialize in audit, accounting and taxes for individuals, companies, non-profit entities, and homeowner's associations.

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We are part of the successor to a long established local accounting firm which has served its clients in Prescott for more than 35 years.

We service all of Yavapai County including Prescott, Prescott Valley, Dewey, Chino Valley, Verde Valley, Flagstaff and Sedona.