Not-for-profit organizations always need volunteers as treasurers or members of the financial oversight committee! CPAs are often asked to fulfill these roles. This course highlights the financial accounting needs of such organizations. Along with covering the status of the not-for-profit organizations, an update on recent ASC updates affecting nonprofit entities is covered. This course is geared toward hands-on, or future hands-on, treasurers of service clubs and similar not-for-profit organizations.
Learning Objectives
• Identify the accounting needs of not-for-profit organizations, specifically membership and service organizations
• Identify the financial statements required by US GAAP, including recent ASU updates for not-for-profit entities
Major Topics
• Financial entity
• IRS filing status
• Recent ASC updates affecting nonprofit entities
