Gain hands-on experience with case studies designed to simulate real-world scenarios and common problems in today’s not-for-profit environment. This CPE course goes beyond theory to show you how to navigate the key issues that arise in nonprofit accounting and auditing.
- Net asset classifications: unrestricted, temporarily restricted, and permanently restricted net assets
- Promises to give
- Contributed services
- Distinguishing contributions from exchange transactions
- Capital campaigns and special events
- Allocation of costs relating to fundraising
- Financial statement requirements
- Fundraising events
- Split-interest agreements
- Consideration of fraud
- Naming rights
- Auditing contributions
- Assessing internal control deficiencies
- Audit issues related to the statement of functional expenses
When you complete this course, you will be able to:
- Identify the accounting differences between contribution and exchange transaction revenues.
- State 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.
- Employ important auditing concepts to a statement of functional expenses.
- Discern effective audit procedures to employ in response to identified fraud risk factors.
- Analyze critical concepts involved in auditing contributions.
Who Will Benefit?
NFP professionals responsible for accounting and reporting and auditors of not-for-profits
Prerequisite: Experience in the nonprofit environment
Advanced Preparation: None
Not-for-Profit Section Members Save an Additional 20%!
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Find out more information on the NFP Section.