Accounting and Reporting for Not-for-Profit Organizations

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Overview

3.5 Credits
ONLINE

Are you ready to create value-added services for your clients? This highly interactive, CPE self-study course allows you to examine, evaluate and perform case studies.

You will enhance your working knowledge of fundamental not-for-profit accounting and reporting, presentation requirements, note disclosures unique to not-for-profits, and options allowed under generally accepted accounting principles.

Objectives

  • Identify major components of accounting and reporting in not-for-profit organizations.
  • Recognize appropriate accounting for recording and recognizing contributions.
  • Identify concepts related to valuation of contributed services and promises received near year-end.

Major Topics

  • Financial statement presentation, including FASB's financial reporting standard
  • Statement of activities
  • Statement of financial position and statement of cash flow
  • Note disclosures
  • Contribution concepts
  • Functional expense and allocation of costs
  • Endowments
  • Operating versus non-operating
  • Split interest agreements and beneficial trusts
  • Agency transactions
  • Programmatic investments
  • Common financial statement mistakes

Designed For

Auditors and financial managers responsible for the accounting and reporting of state and local governments, agencies, divisions, and teams.

Prerequisite

None

Advanced Preparation

None
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