McClintock Minute


Recent 2015-1 Winter Newsletter Articles

Considering Converting Your For-Profit School to a Nonprofit?

By McClintock & Associates December 20, 2016

By Kathryn A. Bell, CPA, MBA With the ever increasing regulatory requirements facing for-profit post-secondary schools, the thought of converting to nonprofit status may have crossed your mind. Will becoming a nonprofit ease the burden of regulations? Does it make business sense for your school? Does it make financial sense for...

Proration and Disbursement Nuances of the Pell Lifetime Eligibility Limit

By McClintock & Associates December 20, 2016

By John W. Mioduszewski On December 23, 2011, Congress enacted the Consolidated Appropriations Act. This legislation reduced the limit of a student’s Federal Pell Grant Lifetime Eligibility to 12 semesters (or equivalent), and went into effect at the start of the 2012-2013 Federal Award Year. Traditionally, an Academic Year is based...

New Accounting on Discontinued Operations

By Thomas R. Wilson, CPA December 20, 2016

By Tom Wilson, CPA In April 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. 2014-08 – Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity. This update applies to all entities. The FASB...