Introduction to Not-For-Profit Entities: Accounting, Tax and Compliance Essentials

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Overview

2.0 Credits
ONLINE

In this CPE course you will learn how accounting and finance professionals can apply their knowledge, skills and abilities to help NFPs accomplish their missions. This CPE course will delve into the unique aspects of accounting, financial reporting, governance, and tax compliance issues that apply to NFPs. Topics covered will include an overview of NFP reporting standards, compliance requirements to obtain and maintain tax-exempt status, basic financial statement presentation, and accounting terminology unique to NFPs.

Objectives

  • Understand the differences between for-profit entities and NFPs
  • Recognize the various types of NFPs
  • Be familiar with NFP-specific terminology
  • Know the key financial statement presentation differences between for-profit entities and NFPs
  • Grasp the differences in the organizational structures of for-profit entities and NFPs

Major Topics

  • The role of CPAs and finance professionals as trusted advisors working in and with NFP organizations
  • NFP reporting standards
  • Compliance requirements to obtain and maintain tax-exempt status
  • Basic financial statement presentation
  • Terminology unique to NFPs

Designed For

CPAs who are new to NFPs, entry-level staff in public accounting firms, seasoned professionals with limited exposure to NFPs, and NFP board members and staff
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