Key Accounting & Reporting Issues for Nonprofits: Expense Accounting (Currently Unavailable)

Author: Larry Perry

CPE Credit:  2 hours for CPAs

This course focuses on the principles of accounting for nonprofit organizations' expenses. It will include discussions of functional expense categories, accounting for functional expenses and allocations of joint costs.

Publication Date: July 2014

Designed For
Practitioners in public accounting at all levels of experience who would like better understanding of nonprofit organizations' operations, accounting and reporting, and particularly expense accounting. Accounting employees and managements of nonprofit organizations will also benefit from this presentation.

Topics Covered

  • Internal controls over cash disbursements
  • Relevant financial statement assertions and financial statement presentation for functional expenses
  • Allocation of joint costs among functional expense categories
  • Accounting for joint activities that include fundraising

Learning Objectives

  • Be able to properly account for expenses of nonprofit organizations
  • Understand principles of accounting and reporting for accounts presented on the statement of activities
  • Become familiar with internal controls over cash disbursements that enable their proper recognition in financial statements
  • Be familiar with the statement of functional expenses
  • Understand how to allocate joint costs

Level
Basic

Instructional Method
Self-Study

NASBA Field of Study
Accounting (2 hours)

Program Prerequisites
None

Advance Preparation
None

">
 Chat — Books Support