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Not-for-Profit Entities - Audit and Accounting Guide

Publisher: AICPA
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The 2015 edition provides assistance in the unique preparation, auditing, accounting and reporting of financial statements for not-for-profit entities.

This new edition includes guidance on reporting donated services between affiliated NFPs, split-interest agreements, contributions and grants, functional expenses and joint costs, and much more.

Key Benefits:

  • Properly report complex revenue and expense transactions that have a material effect on financial reporting.
  • Gain an understanding of the accounting issues that are unique to nonprofits, such as donor restrictions on contributions.
  • Understand the unique audit areas in NFPs and how to address the risk of material misstatement.
  • Properly account for the relationships between NFPs and other entities.
  • Understand the disclosure requirements related to reporting transactions that are common to NFPs.


  • FASB ASU No. 2012-05, Statement of Cash Flows (Topic 230): Not-for-Profit Entities: Classification of the Sale Proceeds of Donated Financial Assets in the Statement of Cash Flows (a consensus of the FASB Emerging Issues Task Force)
  • FASB ASU No. 2013-04, Liabilities (Topic 405): Obligations Resulting from Joint and Several Liability Arrangements for Which the Total Amount of the Obligation Is Fixed at the Reporting Date (a consensus of the FASB Emerging Issues Task Force)
  • FASB ASU No. 2013-07, Presentation of Financial Statements (Topic 205): Liquidation Basis of Accounting
  • Statement on Auditing Standards No. 129, Amendment to Statement on Auditing Standards No. 122 Section 920, Letters For Underwriters and Certain Other Requesting Parties, As Amended as well as developments that are not related to an issuance of authoritative guidance


This comprehensive guide addresses the many aspects of specialized accounting for not-for-profit organizations. It has been designed to be beneficial for a wide range of members, including auditing and accounting firms with nonprofit engagements, as well as financial managers at nonprofit organizations.

Bundle and Save

Get even more value with the Not-for-Profit Entities: Audit & Accounting Set. This convenient bundle gives you access to the full range of Not-for-Profit content offered by the AICPA, all in one convenient online subscription. This online bundle includes how-to advice and authoritative guidance, valuable discussion, best practices, and much more. Follow the link above for more details.


This product is also available in an online subscription format that includes the corresponding Not-for-Profit Entities Industry Developments-Audit Risk Alert, content updates and unlimited online access for 1 year. Select the Online Subscription option at the bottom of the page and save!

Not-for-Profit Section Members Receive Additional Savings! 

When you log into this website with your AICPA member user account, the section/credential discount will be automatically applied during checkout. Should you have any questions or encounter any issues, please contact the AICPA Service Center at 888-777-7077 or

Find out more information on the NFP Section.

Not-for-Profit Audit Guide and Audit Risk Alert Bundle
Online Subscription
Product# WNP-XX
Availability: Online Access 1 Year
For registered users only
AICPA Member:$99.00
Your Price:$125.00
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