Statement of Financial Position

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Overview

1.0 Credits
ONLINE

A not-for-profit (NFP) organization's statement of financial position (SFP) is a vital tool to communicate information about an organization's liquidity, financial flexibility and ongoing sustainability. This CPE course offers you detail-rich examples and case studies that will help you account for common transactions and successfully prepare an NFP's statement of financial position.

Objectives

  • Determine how to prepare, in accordance with GAAP, a statement of financial position (SFP).
  • Identify the most appropriate financial statement format, considering the complexity of the entity.
  • Determine the effect of a particular transaction or significant event on the reporting entity's SFP.
  • Distinguish the reporting of net asset classification in the SFP.

Major Topics

  • Restricted cash
  • Promises to give
  • Investments
  • Assets held in charitable trusts
  • Endowments
  • Net assets
  • Agency liabilities
  • Obligations under split-interest agreements
  • Classified financial statements

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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