Expenses: Not-for-Profit Accounting & Financial Reporting

Description

Not-for-profits (NFPs) exist to fulfill a public benefit or mission. Donors, creditors, and those charged with management and governance of the NFP will often rely on expenses reported in the NFP’s financial statements to assess the efficiency of resources expended to achieve the organization’s mission.

In this CPE course, you will learn the basics of accounting for expenses, including recognition, measurement, and financial statement display issues that are unique to NFPs. Topics covered include functional expense allocation methods and accounting for joint activities. You will have an opportunity to work through several real world examples.

Learning Objectives
  1. When you complete this course, you will be able to:
  2. Differentiate between gains, revenues, expenses and losses
  3. Identify the requirements of an NFP’s reporting of expenses by functional classification
  4. Recall the fundraising activities of an NFP and the kinds of expenses related to them
  5. Recognize the proper accounting treatment for expenses from joint activities
Major Topics
  1. Functional reporting of expenses
  2. Distinguishing between program services and supporting services
  3. Expense allocation methods
  4. Accounting for joint activities
  5. Financial statement presentation and disclosure
Professional Area of Focus
Accounting & Auditing
CPE Field of Study
Accounting
2.5
Who Should Attend
CPAs, financial professionals and NFP board members involved in financial reporting for NFPs or reviewing NFP financial statements.
Course Level
Basic
Instructor(s)
Karen Craig
Prerequisites
None
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When
Available 24/7
Location
Online
Total CPE Credits
2.5
Format
On-Demand
Instructor
Karen Craig

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Expenses: Not-for-Profit Accounting & Financial Reporting


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