Following are some examples of journal entries for accounting for government grants. Proper Accounting for Contributions. US investment in intangible assets surpasses investment in tangible assets. Do current accounting rules make sense Updated often, the Accounting. Find and compare Fund Accounting software. Free, interactive tool to quickly narrow your choices and contact multiple vendors. Generally Accepted Accounting Principles Nonprofit Accounting Basics. What is GAAP GAAP is an acronym for Generally Accepted Accounting Principles. These principles constitute preferred accounting treatment. Who sets GAAP Currently, the GAAP policies are set primarily by two entities Financial Accounting Standards Board FASBAmerican Institute of Certified Public Accounts AICPAThe main FASB pronouncements are known as SFASs and the AICPA pronouncements are know as SOPs. What is the hierarchy of these pronouncementsAccounting For Internal Use Software Fasb Accounting StandardsUnder GAAP, the FASB pronouncements SFASs are the top level guidance and take precedence over the AICPA pronouncements. Does GAAP apply to non profit organizationsAccounting For Internal Use Software Fasb Accounting For LeasesThe latest accounting news information for the public accounting profession, along with practice management advice. E47249356B300F2C2F62ECC1220D710A5E7F0B4' alt='Accounting For Internal Use Software Fasb Accounting Codification' title='Accounting For Internal Use Software Fasb Accounting Codification' />Yes, the SFASs and SOPs typically apply to both for profit and non profit organizations. You Gotta Crack Egg Make Omelette In Waffle here. There are certain pronouncements that apply only to non profits i. SFAS 1. 17 and certain that do not apply to non profits. In addition, the newly created Public Company Accounting Oversight Board PCAOB has the authority to issue accounting regulations for publicly traded corporations.