Not-for-Profit Certificate II - Financial Reporting

Overview

You'll develop the financial reporting skills needed to prepare, consolidate, and analyze not-for-profit financial statements. Part of the Not-for-Profit Certificate II Program.

Highlights

Key Topics

• Financial statement preparation
• Programmatic investments
• Consolidated financial statements
• Direct versus indirect cash flow statements
• Analysis of financial statements
• Presentation options available to NFPs
• Common errors in NFP accounting and financial reporting

Prerequisites

Experience working in or with the not-for profit industry

Designed For

Who Will Benefit

• Accounting and finance professionals responsible for accounting and financial reporting for not-for-profits
• Auditors of not-for-profits

Objectives

Learning Outcomes

• Determine how to prepare, in accordance with accordance with Generally Accepted Accounting Principles (GAAP), a statement of financial position (SFP).
• Identify the most appropriate financial statement format, considering the complexity of the entity.
• Identify the effect of donor-imposed restrictions on the reporting of revenues in the Statement of Activities (SoA).
• Differentiate between those transactions reported on the face of the financial statements and those in the notes to the financial statements (or both).
• Apply ratio and trend analysis to NFP financial statements.
• Identify how a not-for-profit (NFP) entity evaluates another NFP or for-profit entity for consolidation.