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Content refers to 2008 edition
This financial accounting and reporting practice aid is invaluable to anyone who prepares financial statements and reports for not-for-profit organizations. The checklists have been updated to reflect AICPA and FASB pronouncements and interpretations issued as of May 31, 2009. These checklists can be used by preparers of not-for-profit organization financial statements prepared in conformity with generally accepted accounting principles. These checklists can also be used by practitioners who audit, review, or compile those financial statements, including audits performed under Government Auditing Standards and OMB Circular A-133, as they evaluate the adequacy of disclosures made in the basic financial statements, notes to the financial statements, and required supplementary information. Illustrative financial statements and auditor’s reports are included in this practice aid.
This nonauthoritative practice aid has been prepared by the AICPA staff and has not been reviewed, approved, disapproved, or otherwise acted on by any senior technical committee of the AICPA and do not represent official positions or pronouncements of the AICPA.
Not-for Profit Organizations: Checklists and Illustrative Financial Statements is also available as an online subscription. Click here for details.
008988
Content refers to 2008 edition
008988
Content refers to 2008 edition
FSP Section 14,000
Financial Statements and Notes Checklist
.01 This nonauthoritative checklist can be used by preparers of not-for-profit organization financial statements prepared in conformity with generally accepted accounting principles (GAAP) and by practitioners who audit, review, or compile those financial statements as they evaluate the adequacy of disclosures made in the basic financial statements and notes to the financial statements.
.02 Explanation of References:
AAG = AICPA Audit and Accounting Guide Not-for-Profit Organizations (with conforming
changes as of May 1, 2008)
ACC = Reference to a section number in AICPA Technical Practice Aids, Statements of
Position-Accounting
AUD = Reference to a section number in AICPA Technical Practice Aids, Statements of
Position—Auditing and Attestation
APB = Accounting Principles Board Opinion
ARB = Accounting Research Bulletin
AU = Reference to section number in AICPA, Professional Standards (vol. 1)
EITF = Emerging Issues Task Force Abstracts
FIN = Financial Accounting Standards Board (FASB) Interpretation
FTB = FASB Technical Bulletin1
FSP = FASB Staff Position
PB = AICPA Accounting Standards Division Practice Bulletin
SFAS = FASB Statement of Financial Accounting Standards
SOP = AICPA Statement of Position
TPA = Reference to a section number in AICPA, Technical Practice Aids, Technical Questions and Answers (TIS)
008988
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