Not for Profit Accounting: Reporting and Analysis (4.5 hrs)

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Course Description

Non Profit Accounting: Reporting and Analysis – 4.5 hrs. CPE

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, this non profit accounting course describes financial analysis and ratios that can be useful to analyze the financial fitness of NFPOs.

Course Information

Price: $44

Course No. 7029
Format: Online pdf (98 pages). Printed book available.
Prerequisites: None
Advance Preparation:None
Level: Overview
CPE Credit: 4.5 hrs.
Field of Study: Accounting
Course expiration:  You have one year from date of purchase to complete the course.
Course Revision Date: February 2023


Learning Objectives

After completing this course, you should be able to:

  1. Identify the objectives of financial reporting by not-for-profit organizations (NFPOs)
  2. Identify financial statement presentation and disclosure for NFPOs
  3. Recognize how net assets are affected by different types of transactions
  4. Recognize the method of grouping expenses according to the purpose for which costs are incurred
  5. Distinguish between a contribution and an exchange transaction
  6. Distinguishing between conditional and unconditional contributions
  7. Recognize net asset presentation requirements of higher education
  8. Identify major functional expense classes of voluntary health and welfare organizations
  9. Recognize accounting rules of charity care and malpractice claims for private not-for-profit hospitals
  10. Recognize different examples of ratio analysis

Non Profit Accounting Course Topics

Chapter 1: Nonprofit Accounting and Auditing
Financial Reporting Framework
Applicability of FASB Guidance
Purpose of Financial Reporting
Financial Reporting Standards
Accounting for Contributions
Contribution vs. Exchange Transaction
Conditional vs. Unconditional Contributions
Underwater Endowment Funds
Expiration of Donor-Imposed Restrictions
Presentation and Disclosure
Statement of Financial Position
Statement of Activities
Statement of Cash Flows
Other Presentation Matters
Disclosure Requirements
Fund Accounting
Illustrative Financial Statements
Audit Considerations
To Audit or Not to Audit
Types of Audit Opinions

Chapter 2: Colleges and Universities
Financial Reporting Model
Higher Education Fund Structure

Chapter 3: Voluntary Health and Welfare Organizations
Financial Reporting Model
Contributions Received

Chapter 4: Health Care Entities
Financial Reporting Model
Revenue Recognition
Medical Malpractice

Chapter 5: Financial Analysis and Performance Measurement
Financial Statement Analysis
Significance of Financial Analysis
Trend Analysis
Ratio Analysis
Performance Analysis
Importance of Measuring Performance
Key Performance Indicators
Warning Signs
Case Study
Analysis of the Statement of Activities


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