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The U.S. Supreme Court ruling earlier this year has drawn attention to the Patient Protection and Affordable Care Act of 2010. The Act includes some significant tax-related provisions affecting individuals that are schedule to take effect in 2013 and 2014. What individuals and businesses need to do is plan and prepare.
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We often squander valuable resources. A Treasurer is a precious resource and we need to make sure we maximize the potential of that resource. Universally, nonprofit organizations indirectly undermine the benefits that can come from an interactive treasurer relationship. Why does this happen? Simply, nonprofit organizations just have too many barriers in place. Some of these barriers come from poorly designed governance policies and practices. But many of these barriers come from human nature itself. We need to work smarter when it comes to effectively integrating our treasurers into the fabric of our financial management systems. The results will be beneficial and fulfilling.
The Board meeting of the Financial Accounting Standards Board (FASB) on November 22, 2011 could lead to less stringent fair value measurement requirements for nonprofits and nonpublic companies in early 2012. Currently, private companies are required to disclose the basis for valuing Level 3 measurements on the fair value hierarchy, which encompass “significant unobservable inputs” as defined by FASB. The discussion deliberated by Board members was whether or not to continue to require the disclosure of these measurements, as they impose significant costs on private entities.
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