Financial Statement Presentation

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Overview

1.5 Credits
ONLINE

Not-for-profit organizations (NFPs) prepare financial statements in order to report critical information about programs and operations to a diverse group of stakeholders. Users of an NFP's financial statements include donors, grantors, creditors, program beneficiaries, and others who have a need to assess the financial health of the NFP. In this CPE course, you will work through several examples to understand the basic reporting requirements, note disclosures and presentation formats that are available to NFPs.

Objectives

  • Identify the basic financial statements prepared by NFPs
  • Recall various reporting formats used by NFPs
  • Identify the unique NFP note disclosure requirements
  • Differentiate between the three classes of net assets and the effect on financial reporting

Major Topics

  • Statement of financial position
  • Statement of activities
  • Statement of cash flows
  • Statement of functional expenses
  • Net asset classification
  • Required note disclosures

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
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