Course Information
Not-for-Profit Accounting: Reporting and Analysis
Course Information
| Title: | Not-for-Profit Accounting: Reporting and Analysis |
|---|---|
| Category: | Accounting and Auditing |
| Field of Study: | Accounting |
| Course Code: | M191 |
| CPE Credits: | 5.0 |
| Price: | 43.95 |
Description
Description:
The Financial Accounting Standards Board (FASB) provides guidance for communication of a not-for-profit organization’s (NFPO) financial performance and condition to stakeholders (e.g. donors, grantors, creditors). To assist management and auditors in preparing financial statements and performing engagements, this course provides an overview of the accounting and reporting framework applicable to NFPOs that apply FASB standards. It also discusses accounting by specific nonprofits – colleges and universities, voluntary health and welfare organizations, and health care entities. Finally, the course describes financial analysis and ratios that can be useful to analyze the financial fitness of NFPOs.
Delivery Method: Online Interactive Self Study
Level: Overview
Prerequisites: None
Advanced Preparation: None
Course Details
Category: Accounting and Auditing
Field of Study: Accounting
Passing Score: 70%
Technical Details: Accounting is a technical field of study.
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Objectives
Objectives:
- Identify the objectives of financial reporting by not-for-profit organizations (NFPOs)
- Identify financial statement presentation and disclosure for NFPOs
- Recognize how net assets are affected by different types of transactions
- Recognize the method of grouping expenses according to the purpose for which costs are incurred
- Distinguish between a contribution and an exchange transaction
- Distinguishing between conditional and unconditional contributions
- Recognize net asset presentation requirements of higher education
- Identify major functional expense classes of voluntary health and welfare organizations
- Recognize accounting rules of charity care and malpractice claims for private not-for-profit hospitals
- Recognize different examples of ratio analysis
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Profession
NASBA: Yes
QAS: Yes
CPA: Suitable for all CPAs
IRS: No IRS credit for Enrolled Agents.
Profession Identifiers: CPA