Introduction to Not-For-Profit Entities: Accounting, Tax and Compliance Essentials
The Not-for-Profit sector is one of the fastest growing sectors in our economy. In this CPE course you will learn how accounting and finance professionals can apply their knowledge, skills and abilities to help NFPs accomplish their missions.
This CPE course will delve into the unique aspects of accounting, financial reporting, governance, and tax compliance issues that apply to NFPs. Topics covered will include an overview of NFP reporting standards, compliance requirements to obtain and maintain tax-exempt status, basic financial statement presentation, and accounting terminology unique to NFPs.
- When you complete this course, you will be able to:
- Understand the differences between for-profit entities and NFPs
- Recognize the various types of NFPs
- Be familiar with NFP-specific terminology
- Know the key financial statement presentation differences between for-profit entities and NFPs
- Grasp the differences in the organizational structures of for-profit entities and NFPs
- The role of CPAs and finance professionals as trusted advisors working in and with NFP organization
- NFP reporting standards
- Compliance requirements to obtain and maintain tax-exempt status
- Basic financial statement presentation
- Terminology unique to NFPs