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For a deeper education, try sketching out the relationships mentioned in the...
One technique used by auditors when trying to understand a complex situation is to get a piece of paper and draw all the components, cash flows, and relationships. Sometimes there is just too much...
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World Help reduces 2011 revenue by 92.8%
World Help has released their 2012 audited financial statements which you can find on their website at this link. The total revenue initially reported in the audited financial statements for the 2011...
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Comments from others on World Help’s restatement
Aronson Nonprofit Report has a comment out today on the World Help restatement: Charity Overstate Revenue by $222 Million and You Thought Your Restatement Was Bad. Middle paragraph: Once again, we have...
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Impact on downstream charities from World Help revising their financials
As discussed in an earlier post, World Help has revised the amount of 2011 gift-in-kind contribution from $223.7M to $1.6M. That is a 99.3% reduction. What is the impact on charities who received GIK...
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GIK valuation – Things going on behind the scene
Previous posts have discussed an article at Chronicle of Philanthropy: Charity’s Exaggerated Revenue Could Affect Other Groups. I saw two interesting background comments in the Chronicle’s article that...
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Accounting ideas in World Help’s revised financial statements
There are some accounting concepts in the most recent financial statements released by World Help that warrant discussion. This post will walk through those items I noticed. This will be a long post....
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World Help revises 2012 report again to say the 2011 numbers were restated again
My compliments to World Help. They have revised their financial statements to disclose the 2011 numbers were revised again. My hat is off to them for the courage to revise the report. The newest report...
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About that Gardasil shipment and that wave to the CNN reporter
Robert Anglen has a report in the Arizona Republic on a Mesa charity tied to inquiry. He had an interview with the CEO of the Breast Cancer Society. The CEO says that what appeared to be an effort to...
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Strong rebuttal to reporting by CIR and Tampa Bay Times
Charity Services International has posted a strong reply to the combined reporting by CNN, CIR and the Tampa Bay Times. I’ve mentioned their report here and here. The CSI reply is A Breakdown of the...
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Details on FTC enforcement action against four cancer charities – 5
This is the fifth in a series of posts diving deep into the detail mentioned in the complaint by FTC and all Attorneys General against four named cancer charities. This is the first of two posts on...
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