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2.5 Credits

Donors, creditors, and those charged with management and governance of the NFP will often rely on expenses reported in the NFP's financial statements to assess the efficiency of resources expended to achieve the organization's mission. In this CPE course, you will learn the basics of accounting for expenses, including recognition, measurement, and financial statement display issues that are unique to NFPs. Topics covered include functional expense allocation methods and accounting for joint activities. You will have an opportunity to work through several real world examples.


  • Differentiate between gains, revenues, expenses and losses
  • Identify the requirements of an NFP's reporting of expenses by functional classification
  • Recall the fundraising activities of an NFP and the kinds of expenses related to them
  • Recognize the proper accounting treatment for expenses from joint activities

Major Topics

  • Functional reporting of expenses
  • Distinguishing between program services and supporting services Expense allocation methods Accounting for joint activities Financial statement presentation and disclosure

Designed For

CPAs, financial professionals and NFP board members involved in financial reporting for NFPs or reviewing NFP financial statements.
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