Accounting for Costs of Activities of Not-for-Profit Organizations and State and Local Governmental Entities That Include Fund Raising — SOP 98-2

If you handle not-for-profit and state and local governmental entities that solicit contributions, this FASB- and GASB-approved literature will prove invaluable. Statement of Position No. 98-2 amends existing guidance in AICPA Audit and Accounting Guides Health Care Organizations, Not-for-Profit Organizations, and Audits of State and Local Governmental Units.

External users of your financial statements – including contributors, creditors, accreditation agencies, and regulators – want assurance that fund-raising costs, as well as program costs and management and general costs are fairly stated. SOP 98-2 helps CPAs create accurate financial statements that apply appropriate allocation methods and include necessary disclosures. Copious illustrations of financial applications and methods are included. 85 Pages