In order to prepare accurate and effective not-for-profit financial statements, professionals must have a strong working knowledge of the reporting requirements. Now is the time to obtain that knowledge! This course explains the requirements, illustrates how the requirements manifest in the financial statements, and clarifies options available to not-for-profits in applying the requirements. The course covers key accounting areas that affect not-for-profits, including revenue recognition, contributions, and leases. The course materials utilize a highly illustrative and innovative format, including over 30 focused exercises to provide an enhanced working knowledge of not-for-profit accounting and reporting.
This course features a live instructor and has been specifically designed for the NJCPA.
DESIGNED FOR
Not-for-profit industry professionals and auditors
BENEFITS
- Obtain a working knowledge of the new not-for-profit requirements contained in ASU No. 2016-14 and ASU No. 2018-08
- Skillfully prepare a not-for-profit’s financial statements through superior knowledge of accounting and reporting requirements
- Effectively apply today’s core not-for-profit accounting requirements while also preparing for changes coming in the area of leases
HIGHLIGHTS
- Key requirements, options, and disclosures related to each of the basic financial statements
- Functional and natural expense information reporting
- Requirements related to reporting liquidity and availability of financial assets
- ASU No. 2018-08 and its effect on the accounting for grants, contracts, and contributions in general
- The impact of new lease requirements (ASU No. 2016-02, Leases) impact not-for-profits
- Core not-for-profit accounting requirements related to contributions, promises to give, contributed services, net assets, special events, the classification of expenses, and more
COURSE LEVEL
Intermediate
PREREQUISITES
Some introductory background in not-for-profit accounting and reporting
ADVANCE PREPARATION
None
ADDITIONAL NOTES
- Qualifies for Yellow Book.