Statement of Activities: Not-for-Profit Financial Reporting

Online Course Available 24/7 CPE: 1.5 Format: On-Demand
COURSE DESCRIPTION

How does your not-for-profit (NFP) evaluate financial performance? Of all the financial statements, the statement of activities is among the most useful to an NFP’s managers and constituents. The statement of activities reports revenues, gains, expenses, and losses for the period. It is a useful tool in assessing an NFP’s service efforts and its ability to continue to provide services to sustainably carry out its mission.

There are numerous ways in which an NFP’s statement of activities differs from the income statement of a for-profit business. For example, to properly present revenues and gains, one will need to understand how donor-imposed stipulations affect classification.

This CPE course offers you detail-rich interpretations and case studies that will help you learn to prepare an NFP’s statement of activities.

Included as a course resource is a sample statement of activities.

LEARNING OBJECTIVES
When you complete this course, you will be able to:
Determine how to prepare, in accordance with GAAP, a statement of activities
Identify the most appropriate financial statement format, considering the complexity of the entity
Determine the effect of a particular transaction or significant event on the entity’s statement activities
Identify the effect of donor-imposed restrictions on the reporting of revenues in the statement of activities
MAJOR TOPICS
Comparative information
Contributions and Donor-imposed restrictions
Distinguishing revenues from gains
Expense reporting by function * Net asset classification * Presentation options * Industry best practices
Net asset classification
Presentation options
Industry best practices
COURSE DETAILS
PROFESSIONAL AREAS OF FOCUS
Accounting & Auditing
CPE FIELD OF STUDY
Accounting (Governmental) (1.5 Credits)
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.
PREREQUISITES
Knowledge of not-for-profit sector and experience working with basic financial statements
COURSE LEVEL
Intermediate

MACPA MEMBER


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$59.00
Price includes $xx early registration discount(s) - expires xx/xx

NON-MEMBER


$ (% off)
$69.00
Price includes $xx early registration discount(s) - expires xx/xx
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