Accounting and Reporting Practices of Not-for-Profit Organizations (111124A)
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Description:
Not-for-profit accounting can be extremely complex and if you are to be successful, your knowledge and skills must be superior. This course gives you an understanding and shows you how to apply the requirements of FASB and AICPA pronouncements to your not-for-profit clients. Learn from real-world financial statements, cases and problems faced by CPAs with not-for-profit clients and by executives of not-for-profit organizations. With this course, you will develop a working knowledge of presentation requirements and choices allowed under GAAP and understand note disclosures unique to nonprofits. You will also study statement presentation flexibility and how to avoid common financial statement mistakes.
Objectives:
Upon completion of this course, participants will be able to: Ascertain presentation requirements and choices allowed under GAAP Understand note disclosures unique to nonprofits Solve problems involving content of financial statements and allocation of costs relating to fundraising
Major Topics:
Statement presentation flexibility Footnote disclosures Recognition of promises to give Classification of grants as "contribution" or an "exchange transaction" Options for accounting for contributed services Statement of Activities options Examination of "real world" statements
Who Should Attend:
Practitioners with not-for profit clients and not-for-profit financial managers
Prerequisite:
Experience in nonprofit accounting and auditing
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