Description:
Managers of nonprofit organizations (NPOs) generally are not skilled in financial matters. Or, managers are often preoccupied with its welfare objectives and fund raising and ignore the operations efficiency and operating cost controls. A series of appropriate questions that nonprofit financial managers must address in connection with an organization's financial condition and activity include: 1. Do we have a profit or a loss? 2. Do we have sufficient reserves? 3. Are we liquid? 4. Do we have strong internal controls? 5. Are we operating efficiently? 6. Are we meeting our budget? 7. Are our programs valid? 8. Are we competing successfully? 9. Is our prioritizing of programs and activities reasonable? The course is an attempt to help answer these questions.

Delivery Method: Online Interactive Self Study

Level: Overview

Prerequisites: None

Advanced Preparation: None

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Author: Delta Publishing

Category: Finance

Field of Study: Finance

Passing Score: 70%

Publication Date: 01/18/2023

Technical Details: Finance is a technical field of study.

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Objectives:
Chapter 1:     Fundamentals for Nonprofits
1. Recognize financing options for NPOs.
2. Identify different cost types and classifications for NPOs.
3. Recognize costs that are relevant to nonprofit decision making.

Chapter 2:     Accounting Concepts and Principles
1. Recognize the accounting method used by NPOs
2. Identify the processes of budget recording and accountability
3. Distinguish between a contribution and an exchange transaction
4. Distinguishing between conditional and unconditional contributions

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NASBA: Yes

QAS: Yes

CPA: Suitable for all CPAs

IRS: No IRS credit for Enrolled Agents.

Profession Identifiers : CPA