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Course ID: FSNPO
Accounting and Reporting for Not-for-Profit Organizations
Do you need to enhance your not-for-profit accounting skills? Through a case- study-intense, highly interactive, classroom environment, this CPE course provides you with the tools necessary to go beyond the theory and create value-added services for your clients. This course allows you to examine, evaluate and perform case studies which will enhance your working knowledge of fundamental not-for- profit accounting and reporting, presentation requirements, note disclosures unique to not-for-profits and options allowed under generally accepted accounting principles. FASB’s financial statement standard updates and revenue recognition standards are included in this course.
Learning Objectives
- Identify major components of accounting and reporting in not-for-profit organizations.
- Recognize appropriate accounting for recording and recognizing contributions.
- Identify concepts related to valuation of contributed services and promises received near year-end.
Major Topics
- Financial statement presentation, including FASB’s financial reporting standard.
- Statement of activities.
- Statement of financial position and statement of cash flow.
- Note disclosures.
- Contribution concepts.
- Functional expense and allocation of costs.
- Endowments.
- Operating versus non-operating.
- Split interest agreements and beneficial trusts.
- Agency transactions.
- Programmatic investments.
- Common financial statement mistakes.
Advanced Preparations
None.
Who Should Attend
Auditors, practitioners and accounting and finance professionals of not-for-profit organizations
Fields of Study
Accounting GovernmentalPrerequisites
Experience in the not-for-profit environment