Surgent Live Webinar CPE



ARFS-W01
Not-for-Profit Accounting and Reporting: The Basic Financial Statements

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Date/Time: Friday, May 11, 2012, 1-3 p.m. Eastern (see all dates)

Presenter(s): Charles Blanton, CPA

Not-for-profits are operating in an increasingly competitive environment for resources. To help garner the attention and confidence of resource providers, it is crucial that their financial reporting be accurate. The purpose of this course is to improve and refine your not-for-profit accounting and reporting skills. Obtain an in-depth understanding of the key requirements and how they are applied.

Major Topics:

  • Key concepts related to the statement of financial position
  • Requirements and options for classifying assets and liabilities in the statement of financial position
  • Distinguish the three classes of net assets and understand the requirements for their presentation
  • Requirements and alternatives related to the statement of activities
  • Classification of revenues, expenses, gains, and losses
  • Reporting special events in the statement of activities
  • Reclassifications of net assets
  • Correcting prior year net asset classifications
  • The statement of functional expenses
  • Unique aspects of a not-for-profit organization's statement of cash flows
  • Key disclosure considerations

Learning Objectives:

  • Identify what distinguishes not-for-profit accounting and reporting from commercial sector accounting and reporting
  • Skillfully apply the unique not-for-profit accounting and reporting requirements
  • More effectively audit not-for-profit organizations through superior knowledge of accounting and reporting requirements

Designed For: Not-for-profit industry professionals and auditors

Course Level: Intermediate

CPE Credits: 2, Government Accounting

Prerequisites: Some introductory background in not-for-profit accounting and reporting.

Advance Preparation: None

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