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

Author: Larry Perry

This course focuses on the differences between for-profit and non-profit organizations in their organization, accounting and reporting. It includes discussions of assets, liabilities and net asset accounts that are common to most non-profit organizations.

Publication Date: March 2014

Designed For
Practitioners in public accounting at all levels of experience who would like better understanding of non-profit organizations' operations, accounting and reporting. Also, accounting employees and management of non-profit organizations will benefit from this presentation.

Topics Covered

• Definition of a non-profit organization and differences from for-profit organizations
• SFAS Nos. 116, 117, and 124
• Illustrative financial statements and footnotes for a small NPO
• Management's representations in financial statements
• Assets, liabilities and net asset accounting and presentation

Learning Objectives

• Understand the fundamental definitions and operating principles of non-profit organizations
• Review Statements of Financial Accounting Standards for non-profit organizations
• Become familiar with basic financial statements and footnotes presentations for non-profit organizations
• Understand managements responsibilities for internal control over financial reporting
• Understand principles of accounting and reporting for accounts presented on the statement of financial position

Level
Basic

Instructional Method
Self-Study

NASBA Field of Study
Accounting (2 hours)

Program Prerequisites
None

Advance Preparation
None