CPA-Draft – Compilation Financial statements 12-31-20 2020 CPA’s DRAFT TAX RETURN
Treasurer, Mark Kaenel noted that the usual differences versus our internal financial statement are the recognition of revenue when earned and related deferred income liability, reclassification of member donations (unreimbursed airfare and hotel) as a reduction to these expenses, and the CPA’s calculation of depreciation expense. The costs to revamp the website were also capitalized by the CPA rather than expensed.
Please direct any questions regarding the financials to Mark. markkaenel@gmail.com