Not-for-Profit Accounting, Tax and Compliance Essentials

Overview

You'll establish an understanding of the unique aspects of accounting, financial reporting, governance, and tax compliance issues that apply to NFPs. Part of the Not-for-Profit Certificate I Program.

Highlights

Key Topics

• The role of CPAs and finance professionals as trusted advisors working in and with NFP organizations
• An overview of NFP reporting standards
• Compliance requirements to obtain and maintain tax-exempt status
• Basic financial statement presentation
• Accounting terminology unique to NFPs

Prerequisites

Knowledge of the not-for-profit industry

Designed For

Who Will Benefit

• New accountants interested in the basics of not-for-profit accounting, financial reporting, governance, and tax issues.
• Experienced accountants that are new to the not-for-profit industry or

  Objectives

  Learning Outcomes

  • Recognize the basic identity of the NFP sector.
  • Recall organizational aspects of NFPs.
  • Distinguish differences in the organizational structures of for-profit entities and NFPs.
  • Identify the differences between for-profit entities and NFPs.
  • Recognize NFP-specific terminology.
  • Indicate the basic financial statement presentation differences between for-profit entities and NFPs.