Statement of Cash Flows: Not-for-Profit Financial Reporting
Overview:
This video-based CPE course is included in the Not-for-Profit Certificate II Program. It can be purchased individually or as a part of the Not-for-Profit Certificate II - Financial Reporting track.
A statement of cash flows is necessary to comply with GAAP, which is required of for-profit and not-for-profit (NFP) businesses alike. However, NFPs are required to comply with unique industry-specific guidance that applies only to them. For example, when an NFP receives cash with a donor-imposed restriction or holds cash for the purposes of a long-term endowment, debt-service reserve, quasi endowment, or future acquisition of property, those activities will require special reporting consideration. This CPE course offers you detail-rich examples and case studies. Learn the nuances of NFP financial reporting and get the information you need to successfully prepare a statement of cash flows. You will have an opportunity to download a sample NFP statement of cash flows, which is included in your course materials.
Note: As of August 1, 2018, course content has been updated to reflect implementation of FASB Accounting Standards Updates (ASUs) effective for most not-for-profit entities for their next financial reporting period, including those related to financial statement presentation (ASU 2016-14) and revenue recognition (ASU 2014-09 and ASU 2018-08).
Objectives:
Learning Outcomes
- Determine how to prepare, in accordance with GAAP, a statement of cash flows (SCF).
- Differentiate between operating, financing, and investing activities.
- Determine the effect of a certain transaction or significant event on the reporting entity's SCF.
- Differentiate between direct method and indirect method cash flow statement and identify steps for successful completion of the statements under both methods.
Major Topics:
Key Topics
- GAAP industry-specific guidance
- Industry best practices
- Direct and indirect method
- Classification (operating, investment, and financing activities)
- Reconciliation of change in net assets to cash balances
- Effect of donor restrictions on cash flow reporting
Designed For:
Who Will Benefit
- CPAs, financial professionals and NFP board members involved in financial reporting for NFPs or reviewing NFP financial statements.