Exchange and Agency Transactions: Not-for-Profit Accounting & Financial Reporting

Online Course Available 24/7 CPE: 1.0 Format: On-Demand
COURSE DESCRIPTION

To achieve financial sustainability, NFPs diversify their revenue streams. Funding sources may include a mix of contributions, grants, awards and sponsorships, and earned income from the sale of goods or services. Under GAAP, these transactions are classified as contributions or exchange transactions, or a combination of both. Some exchange transactions take the form of agency arrangements when the NFP has little discretion over the use of the assets that it receives. Your ability to differentiate between these types of transactions is vital to successful preparation of financial statements in the NFP reporting environment.

This CPE course provides real-world examples to help you understand how to distinguish contributions from exchange transactions. You will also learn about basic financial statement presentation and disclosures related to these transactions.

LEARNING OBJECTIVES
When you complete this course, you will be able to:
Differentiate between exchange transactions, contributions and agency transactions
Identify the indicators useful in distinguishing contributions from exchange transactions
Recall key concepts regarding exchange transactions
MAJOR TOPICS
Grants, awards and sponsorships
Service fees
Special fundraising events and campaigns
Product and merchandise sales
Membership dues
Donor-advised funds
Agency transactions
Variance power
Financially interrelated entities
COURSE DETAILS
PROFESSIONAL AREAS OF FOCUS
Accounting & Auditing
CPE FIELD OF STUDY
Accounting (1.0 Credits)
WHO SHOULD ATTEND
CPAs, financial professionals and NFP board members involved in financial reporting for NFPs or reviewing NFP financial statements
INSTRUCTOR(S)
Karen Craig
PREREQUISITES
None
COURSE LEVEL
Basic

MACPA MEMBER


$ (% off)
$29.00
Price includes $xx early registration discount(s) - expires xx/xx

NON-MEMBER


$ (% off)
$39.00
Price includes $xx early registration discount(s) - expires xx/xx
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