Are you aware of the accounting treatment of transactions unique to the not-for-profit environment? Gain hands-on experience with case studies designed to simulate real-world scenarios and common problems. Learn how to navigate the key issues that arise in not-for profit accounting and auditing.
DESIGNED FOR
Not-for-profit professionals responsible for accounting and reporting and auditors of not-for-profits.
BENEFITS
- Identify the accounting differences between contribution and exchange
transaction revenues
- Recall key issues relating to the recording and valuation of contributed services
- Identify key accounting issues related to pledges and special event costs associated with a capital campaign
- Recognize financial statement presentation deficiencies by reviewing an incorrectly prepared statement
- Apply important auditing concepts to a statement of functional expenses
- Determine effective audit procedures to employ in response to identified fraud risk factors
- Analyze critical concepts involved in auditing contributions
HIGHLIGHTS
- Financial statement requirements
- Net asset classifications: unrestricted, temporarily restricted, and permanently restricted net assets
- Consideration of fraud
- Promises to give
- Distinguishing contributions from exchange transactions
- Auditing contributions
- Contributed services
- Split-interest agreements
- Assessing internal control deficiencies
- Capital campaigns and special events
- Fundraising events and membership
- Allocation of costs relating to fundraising
- Audit issues related to the statement of functional expenses
COURSE LEVEL
Intermediate
PREREQUISITES
Experience in the not-for-profit environment.
ADVANCE PREPARATION
None
ADDITIONAL NOTES
- *AICPA members deduct an additional $30 from applicable price.
- Qualifies for Yellow Book.