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GAAP/FASB Compliance

In order for an organization to truly know how it is performing and how each segment of the organization contributes to the financial strength and stability of the organization, financial statements must be GAAP based and completed in accordance with Financial Accounting Standard Board (FASB) rules.  For trade associations, professional associations and nonprofit organizations this is FAS 116 for recording contribution revenue, FAS 117 for financial statements and often times SOP 97-2, 98-9 or similar statute for GAAP based revenue recognition.  At A-Frame we do not believe it is prudent for organizations to wait until their year-end audit for financial statements to be produced and compliant.  As part of the monthly close process, we ensure that all accounts are reconciled, adjusting journal entries are performed and accurate financial statements and analysis are prepared and reported.  We take a common-sense approach and make sure that your financial statements and accounting procedures are in accordance with all applicable financial guidance on a monthly basis.

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