This practical guide shows how to create and operate a nonprofit accounting system and produce financial statements, all while operating in accordance with nonprofit accounting standards. The course walks the accountant through basic nonprofit accounting concepts and then discusses more advanced topics, including budgeting, controls, ratio analysis, revenue recognition, joint costs, split-interest agreements, tax reporting, and mergers and acquisitions. In short, the course offers a wealth of information for understanding nonprofit transactions and financial statements. Nonprofit Accounting is designed for financial professionals to use as a reference tool for developing accounting systems and researching the correct accounting to deal with various transactions and reports. With its complete coverage of these topics and more, it will earn a permanent place on your bookshelf.
Nonprofit Entity. Basic nonprofit Accounting Concepts. Nonprofit Financial Statements. Revenue Accounting. Government Grants. Investment Accounting. Inventory Accounting. Fixed Asset Accounting. Lease Accounting. Pension Plan Accounting. Joint Costs and Allocations. Accounting Changes and Error Corrections. Fair Value. Other Accounting Topics. Split Interest Agreements. Affiliated Organizations. Mergers and Acquisitions. Nonprofit Tax Reporting. Closing the Books. Nonprofit Budgeting. Accounting Controls. Nonprofit Policies. Analysis of a Nonprofit’s Financial Health.
CPAs, CFOs, controllers, financial professionals, and auditors.
Cite the criteria used to define a nonprofit organization. Specify the essential building blocks of an accounting system. Identify the types of nonprofit financial statements and the comparable for-profit financial statements. Specify the instances in which revenue and gains can be recognized by a nonprofit. Cite the methods used to assign costs to a grant-funded program. State the applicable rules related to the recognition of investment assets. Identify the costing characteristics of the various cost layering methodologies. Identify the options available for recognizing a collection. Recall how the 12-month lease exception works. Specify the different types of lease payments. Recognize the components of net periodic pension cost, and the accounting for a defined contribution plan. Identify the types of joint costs, and the tests used to determine whether fundraising costs can be allocated. Define the situations in which accounting principles can be changed, and when retrospective application is allowed. State the concept of the principal market and the basis upon which fair value is determined. Cite the accounting for a contribution receivable, as well as the steps involved in a petty cash reconciliation, and more.
Steven Bragg, Western CPE
Steven M. Bragg, CPA, is a full-time book and course author who has written more than 70 business books. He provides Western CPE with self-study courses in the areas of accounting and finance, with an emphasis on the practical application of accounting standards and management techniques. A sampling of his courses include the The New Controller Guidebook, The GAAP Guidebook, Accountants’ Guidebook, and Closing the Books: An Accountant’s Guide. He also manages the Accounting Best Practices podcast.
Steven has been the CFO or controller of both public and private companies and has been a consulting manager with Ernst & Young and an auditor with Deloitte & Touche. He holds an MBA from Babson College, a Master of Finance from Bentley College, and a BA from the University of Maine (summa cum laude).
Non-Member Price $442.00
Member Price $384.00