Preparing Consolidated Financial Statements: Not-for-Profit Financial Reporting


his CPE course is included in the 30-hour Not-for-Profit Certificate II Program. It can also be purchased individually or as a part of the Not-for-Profit Certificate II Accounting and Financial Reporting Bundle.

Many not-for-profits (NFPs) engage in strategic partnerships or ventures with other organizations. Working together, organizations share their strengths and achieve economies of scale. Because these relationships can take many different forms, half the battle is identifying which relationships will require entities to present consolidated financial statements. The other half is applying the unique reporting standards to these transactions to successfully prepare a set of consolidated financial statements.

This CPE course offers you detail-rich examples and case studies that will help you understand when and how to prepare consolidated financial statements. Included in the course resources are two flow charts that will assist is determining if consolidation is required, as well as various financial statement examples.

Learning Objectives
  1. Upon completion of this course, participants will be able to :
  2. Identify the characteristics of consolidated financial statements
  3. Apply the principle of control to determine whether an NFP controls another entity and, therefore, should prepare consolidated statements
  4. Determine the effect of a particular transaction on the consolidated statements
  5. Identify how to prepare consolidated financial statements in accordance with GAAP
Major Topics
  1. Related party transactions
  2. Controlling interests in other entitie
  3. Economic interests in other entitie
  4. Investments in for-profit entities
  5. Accounting entries to perform consolidation
  6. Consolidating financial statements
  7. Note disclosures
CPE Field of Study
Accounting (Governmental)
Who Should Attend
CPAs, financial professionals and NFP staff and board members looking to deepen their existing knowledge of NFP financial responsibility, and set themselves apart as a leader in this field.
Course Level
Knowledge of not-for-profit sector and experience working with basic financial statements.
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Preparing Consolidated Financial Statements: Not-for-Profit Financial Reporting