Table Of ContentChapter 1 1-1 Financial Reporting 1-1 Net assets 1-2 The basic financial statements 1-4 Reporting formats 1-15 Notes to the financial statements 1-19 Investments and investment income 1-20 Summary 1-27 Practice questions 1-28 Chapter 2 2-1 Exchange Transactions, Contributions, and Gains and Losses 2-1 Resources for the mission 2-3 Exchange (reciprocal) transactions 2-6 Contributions 2-15 Identifying gains and losses 2-24 Agency transactions 2-25 Summary 2-26 Practice questions 2-27 Chapter 3 3-1 Expenses 3-1 Expenses versus losses 3-2 Functional reporting of expenses 3-4 Reclassifications 3-16 Summary 3-18 Practice questions 3-19 Chapter 4 4-1 The Not-for-Profit Environment and Performance Measures 4-1 The NFP environment 4-2 Types of NFP organizations 4-6 Fund accounting 4-9 Measuring performance 4-10 Reporting information in the statement of activities 4-11 Ratios and other tools 4-13 Input, output, and outcomes 4-16 Summary 4-19 Practice questions 4-20 Appendix A A-1 Excerpt of Appendix A of Chapter 5 of AICPA Audit and Accounting Guide Not-for-Profit Entities A-1 Glossary Glossary 1 Index Index 1 Solutions Solutions 1 Chapter 1 Solutions 1 Chapter 2 Solutions 4 Chapter 3 Solutions 8 Chapter 4 Solutions 10
SynopsisThrough a combination of practical guidance and case studies, the author provides insight into what makes not-for-profits different. Updated for revenue recognition, grants and contracts, and financial reporting, this book offers guidance on FASB's new financial statement standard and revenue recognition standard which will have a major impact on financial reporting for not for profits. It helps answer the questions: Are you aware of how not-for-profit financial statements will change because of FASB's Financial Statement Standard? Do you know what makes not-for-profit accounting and financial reporting different? Key topics include: Grants and contracts Expense reporting NFP financial statement standard Revenue recognition Performance measures