Expenses: Not-for-Profit Accounting & Financial Reporting

Overview

This course discusses accounting for certain expenses, contrasts them with losses, and summarizes recognition, measurement, and financial statement display issues for those items that are unique to not-for-profit entities (NFPs).

Highlights

Key Topics

• Expenses and losses
• NFP reporting requirements
• Expenses related to fundraising activities
• Expenses related to joint activities

Prerequisites

None

Designed For

Who Will Benefit

• New accountants interested in the basics of accounting and financial reporting requirements that apply to not-for-profit entities.
• Experienced accountants that are new to the not-for-profit i

  Objectives

  Learning Outcomes

  • Differentiate between expenses and losses.
  • Identify NFP reporting requirements of expenses by nature and function.
  • Recognize proper accounting for expenses related to fundraising activities.
  • Recall the proper accounting treatment for expenses related to joint activities.
  • Recognize other expenses unique to NFPs.