The Strauss Blog

Association Ethics for Staff and Volunteers

Ethical behaviour means acting in ways that are consistent with behaviours that society, individuals, and businesses have deemed to be “proper” or “correct.” Good values involve demonstrating respect for key moral principles that include honesty, fairness, equality, dignity, diversity, and individual rights[1]. The most important influence on ethical values in an association is its overall […]

How to Know When Your Association Needs Help from a Professional Accountant

There can be many challenges when managing an association, especially a small one that may not have endless resources or a need for numerous full-time staff members. In particular, for a small association the accounting most likely does not require the work of a full-time accountant, it is still important to make sure that the […]

Is Your Association Set Up to Prevent Fraud?

It’s no secret that fraud is a large risk to any organization. There are numerous ways fraudulent activity could take place in an accounting system and it’s important to understand your risk factors and to take into consideration several things to prevent fraud in an association. Smaller associations are more vulnerable to fraud due to […]

Understanding Accounting to Better Manage Your Association

As an accountant working with associations, one question I’ve been asked is, “What is the difference between management accounting and financial accounting?” These are two distinctly different areas of accounting, and if you didn’t study accounting, this is probably something you were not aware of. Up until 2016, these two areas had different educational and […]

Cash Flow Management for Volunteer Board Members

As the accounting manager of an association management company, one challenge that I have encountered is that most volunteer association board members do not have a diverse accounting knowledge or background. Most people have an idea of how to manage their personal finances, but this is likely being done on more of a cash in, […]

Association Accounting Versus Business Accounting – What’s the Difference?

Association accounting is an area that may be confusing to some because the standards are slightly different than for a typical for-profit business. Not-for-profit associations can be run similarly to for-profit businesses in that they both have revenue, expenses, clients, directors, employees, etc. Yet, there are some key differences in the way the accounting is […]

How QuickBooks Can Work for Your Association

No matter what type of association you are managing, keeping accurate financial records is essential. Keeping your accounting records organized is important for many reasons, including a quick and low-cost audit or review engagement and being able to get useable information when it is needed to help manage your association. QuickBooks is one of the […]