Not-for-Profit Certificate I

Overview

You'll set yourself apart with this comprehensive program that covers the essentials of not-for-profit financial management, including accounting and financial reporting, tax compliance, governance and assurance. This 40-hour CPE program offers an affo

Highlights

Key Topics

• Introduction to accounting topics that apply to not-for-profit entities
• Financial statement presentation and disclosures
• Accounting for contributions, endowments, split-interest agreements, and net assets
• Tax compliance considerations, activities that can jeopardize tax-exempt status, unrelated business income taxes, IRS Form 990, and private foundations
• Board governance, financial oversight, risk management, internal control, and audit planning and preparation

Prerequisites

Knowledge of the not-for-profit industry

Designed For

Who Will Benefit

CPAs and accounting professionals new to NFPs or in need of a refresher

Objectives

Learning Outcomes

• Identify the proper accounting treatment for typical transactions of not-for-profit entities.
• Recognize the financial statement presentation and disclosure requirements that apply to not-for-profit entities.
• Identify basic state and federal filing requirements of an exempt organization, recognize the core components of the annual information return Form 990, and identify when an NFP may be subject to unrelated business income tax.
• Recognize best practices in NFP board governance, risk management and internal controls.
• Identify steps involved in planning a successful audit engagement and identify key auditing considerations.