About Kara Allen

This author has not yet filled in any details.
So far Kara Allen has created 32 blog entries.

3 Minutes on the 3 Main Changes of the New Nonprofit Reporting Standard

The Financial Accounting Standards Board’s (FASB’s) new standard for nonprofit financial reporting will dramatically change how not-for-profit organizations present their financial statements. The new regulations are designed to help financial statement users more clearly understand how nonprofits manage their funds. Watch as Alyssa Hill explains three key changes the FASB’s standard will introduce, [...]


U.S. Appeals Court Ruling Deals the Cards in the Fiduciary Blame Game

When a fiduciary breach occurs, some fiduciaries may be more culpable than others. In such cases, a court can order those parties to indemnify other fiduciaries who were, despite their technical status as fiduciaries, without blame. That ruling was the opinion of the U.S. Court of Appeals for the Seventh Circuit in a recent case. [...]


Dispatching Guidance for Properly Recording Contribution Revenue

Navigating nonprofit accounting can be confusing, especially in relation to recording contribution revenue. Determining when contribution revenue is unrestricted, temporarily restricted, or permanently restricted may involve many twists and turns. However, it is important to note that – much like air traffic controllers – the donor directs an organization regarding how to categorize his or [...]


Defying the Gravity of Going Concern Issues for Nonprofits

The Financial Accounting Standards Board (FASB) requires management of both nonprofit and for-profit entities to assess whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the organization's ability to continue as a going concern for at least one year after the date that the financial statements are issued. Some [...]

March 2nd, 2017|NOT-FOR-PROFITS|

How Nonprofits Cluster Functional Expenses on Financial Statements

Like grapes, a nonprofit entity’s expenses are “clustered” on the organization’s financial statement. Nonprofits are required to report financial information using functional expense classification, which is a method of grouping expenses according to their purposes (e.g., program services and supporting services). By contrast, natural expense classification is based on the type of expense – such [...]


How to Use Real-Time Financial Data to Improve Your Cash Flow Forecast

Real-time weather data has transformed our lives. Long gone (for most of us!) are the days of being caught in a rainstorm without an umbrella or in a bulky sweater on an unseasonably warm day. Similarly, accounting systems that provide an up-to-the-minute look at a company’s condition mean that businesses are better prepared to avert [...]

Atlanta’s BNKJ Joins Top 25 CPA and Advisory Firm Carr, Riggs & Ingram (CRI)

ATLANTA, GA – Local CPA firm Babush, Neiman, Kornman & Johnson, LLP (BNKJ) has merged with top 25 CPA and advisory firm Carr, Riggs & Ingram, LLC (CRI). The BNKJ team will operate under the CRI name and join a team of more than 1,600 professionals across the South. For more than 50 years, BNKJ has [...]

February 28th, 2017|NEWS, PRESS RELEASES|

Two Practical Solutions to Combat the Revenue Cycle Impact of High Deductible Plans

Rising healthcare costs have prompted consumers to increasingly choose high-deductible insurance plans. As a result, much of the healthcare industry is now driven by out-of-pocket costs rather than government or commercial payers. Therefore, healthcare providers must now focus on working directly with patients to settle their account balances. Watch as Kathleen Zuniga discusses [...]

February 27th, 2017|HEALTHCARE, VIDEO|

The Death of Traditional Bookkeeping: A Eulogy

Technology is radically changing every aspect of a business’ operations – including accounting. Consequently, traditional bookkeeping is slowly being replaced by accounting software that provides real-time insights, fosters collaboration, and allows for automated processes. Watch as Martin Copeland discusses how such systems are revolutionizing business recordkeeping.


Maximize Tax Refund Benefits For Your Small Business

Receiving a tax refund can be exciting for many individuals. For small business owners, a refund can lead to new company investments, significant retirement plan contributions, or both. Watch as Heather Jourdan explains several options that small business owners have for making the best use of their tax refunds.

February 22nd, 2017|BUSINESS TAX, VIDEO|

New and Improved Bonus Depreciation Provisions Now Available for a Limited Time Only

Any fan of late-night infomercials knows that a key part of the marketing pitch is that final offer that pushes the perceived value of the package well past the asking price. Similarly, the extension of bonus depreciation is the literal “bonus” of the Protecting Americans from Tax Hikes (PATH) Act that can deliver impressive value [...]

February 22nd, 2017|MARCH 2017, TAX SPECIALTY SERVICES|

Solving the Hardship Withdrawal Program Administration Puzzle

Riddle Me This: Why Offer a Hardship Withdrawal Option? Plans that do not offer a hardship withdrawal option are still subject to “plan leakage.” In other words, employees’ retirement dollars prematurely leave the plan due to hardship withdrawals, plan loans going into default upon employment termination or other reasons. Whatever the cause of the leakage, [...]


Proctor, Crook, Crowder, & Fogal Joins Top 25 CPA and Advisory Firm Carr, Riggs & Ingram (CRI)

WEST PALM BEACH, FL – Local CPA firm Proctor, Crook, Crowder, & Fogal is now part of top 25 CPA and advisory firm Carr, Riggs & Ingram, LLC (CRI). All locations now operate under the CRI name, and the personnel join a team of more than 1,600 professionals serving clients from locations across the Southern United [...]

February 21st, 2017|NEWS, PRESS RELEASES|

James D.A. Holley & Co. Joins CRI

TALLAHASSEE, FL – Local CPA firm James D.A. Holley & Co. has merged with top 25 CPA and advisory firm Carr, Riggs & Ingram, LLC (CRI). All James D.A. Holley & Co. personnel will now operate under the CRI name, and the team will also relocate to CRI’s new Tallahassee office on Centennial Boulevard in late [...]

February 15th, 2017|NEWS, PRESS RELEASES|

Extra! Extra! Read All About the New 2017 Tax Deadlines

The IRS and Congress made headlines by agreeing to change tax return filing and extension deadlines for the 2017 filing season (i.e., dates for filing 2016 returns). Their goal might be to spread at least some of the busy tax workload over a longer period – and relieve stress from taxpayers, preparers, and the IRS. [...]

February 5th, 2017|BUSINESS TAX, FEBRUARY 2017|

CRI Financial Institutions Partner Doug Mims Relocates to Atlanta Office

ATLANTA, GA – Top 25 CPA and advisory firm Carr, Riggs & Ingram, LLC (CRI) recently announced the transfer of Doug Mims to the firm’s Atlanta office. Doug will lead the financial institutions practice for the Greater Atlanta area, as well as the state of Georgia. A graduate of Troy University, Doug has more than [...]

January 31st, 2017|NEWS, PRESS RELEASES|

Rio Grande Valley Long Chilton, LLP Joins CRI

BROWNSVILLE, TX – Rio Grande Valley accounting firm Long Chilton, LLP has merged with top 25 CPA and advisory firm Carr, Riggs & Ingram, LLC (CRI). The Long Chilton team – as well as the offices in Brownsville, Harlingen, and McAllen – now operates under the CRI name. Long Chilton is the largest locally owned accounting [...]

January 19th, 2017|NEWS, PRESS RELEASES|

Why Cost-Plus Contracts Can Help Achieve Peak Construction Project Performance

Construction spending has climbed in the last several years since the mountainous declines of the Great Recession from 2008 to 2010. Construction managers and subcontractors, who survived those lean years, now find themselves in a market with abundant work and improving margins. Increasingly, construction projects are being contracted as cost-plus contracts, which include the design/build [...]

December 15th, 2016|AGREED UPON PROCEDURES|

Made in the USA: The Section 199 Deduction

Apple pie and baseball are long-standing symbols of our country’s most favorite pastimes. For some businesses, there is a tax deduction that is also strongly associated with America: the domestic production activities deduction (DPAD). This deduction, also known as the Section 199 deduction for its place in the Tax Code, allows U.S. manufacturers and contractors [...]

CRI Names 15 New Partners

ENTERPRISE, AL – Top 25 CPA and advisory firm Carr, Riggs & Ingram, LLC (CRI) has named 15 new partners. “CRI’s accelerated expansion has fostered many opportunities for our team’s professional advancement,” stated William H. Carr, managing partner and chairman of CRI. “We are proud to announce these 15 individuals, whose skills enhance our industry specializations [...]

December 13th, 2016|NEWS, PRESS RELEASES|