A frivolous post today. Accounting for Dragons takes you a podcast where my work time meets my play time. And if you like bad puns and accounting, these shirts might be for you.
For nonprofit accounting related posts check out here, and have a good weekend!
From the IRS’s Website:
The Internal Revenue Service today issued the 2010 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.
Beginning on Jan. 1, 2010, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:
- 50 cents per mile for business miles driven
- 16.5 cents per mile driven for medical or moving purposes
- 14 cents per mile driven in service of charitable organizations
The new rates for business, medical and moving purposes are slightly lower than last year’s. The mileage rates for 2010 reflect generally lower transportation costs compared to a year ago.
I’ll be taking a break updating this site for a bit. I have a new job in a new state that will keep me busy but I’ll post here again when I’m settled. But before I go on my brief hiatus I wanted to feature some of the posts that have garnered the most traction over the past year, my very own best of post!
Issues around the rules that govern nonprofit accounting are common. After all, how many of us go to work for nonprofits because we like accounting? Posts around FASB 116, 117 and even the new 117-1 have all been read quite a bit.
This recent post on Cost Allocation has been pretty popular. Allocation is always an issue as we have little guidance on how to do it from the IRS or GAAP.
Defining administrative expense and making sure nonprofits call their expenses either program, admin or fundraising is another big issue. This post has been read quite a bit.
Getting the donation is one thing, then comes booking it into the accounting system. And your nonprofit does need an accounting system. This post on donation transactions and this post on gifts in kind have been popular resources.
These pages have seen a lot of traffic too which makes me happy as I intended them to be a resource for the nonprofit sector.
Thanks to all the readers who have made this site such a pleasure to maintain. Please keep sending me any questions or comments you might have, I’ll get to them as soon as I can.
