Updated as of March 1, 2014, this guide 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.
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 NFPs, 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. 2013-06, Not-for-Profit Entities (Topic 958): Services Received from Personnel of an Affiliate; a consensus of the FASB Emerging Issues Task Force
FASB ASU No. 2012-02, Intangibles - Goodwill and Other (Topic 350): Testing Indefinite-Lived Intangible Assets for Impairment
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.
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.