Financial Statement Note Disclosures for NFPs

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Overview

1.5 Credits
ONLINE

A not-for-profit (NFP)'s note disclosures provide a treasure trove of explanations, interpretations and mission-critical information to help users make informed decisions. Without the notes, it is not possible to fully understand the causes and effects of significant transactions. Also, beyond the minimum GAAP requirements, an NFP's managers enjoy some degree of latitude to present information in a way they consider meaningful and relevant for the organization's constituencies, including donors. This CPE course offers you detail-rich examples and case studies that will help you prepare note disclosures unique to NFPs and to get the most out of your reporting process.

Objectives

  • Determine how to prepare, in accordance with GAAP, the most common note disclosures for a not-for-profit entity's (NFP's) financial statements.
  • Determine the effect of a particular transaction or significant event that should be disclosed in the notes to the financial statements.
  • Differentiate between those transactions reported on the face of the financial statements and those in the notes to the financial statements (or both).

Major Topics

  • GAAP requirements unique to NFPs
  • Split-interest agreements
  • Fair value
  • Contributions receivable and donor-imposed restrictions
  • Gifts-in-kind, investments, and endowments
  • Net asset composition
  • Contingencies
  • Related parties
  • Best practices and presentation options

Designed For

CPAs, financial professionals and NFP staff and board members looking to deepen their existing knowledge of NFP financial responsibility, and set themselves apart as a leader in this field
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