Upon successful completion of this course, participants will be able to: Recognize the key features of a fund accounting system. Specify the differences between restricted and unrestricted donations. Identify the differences between the cash basis and accrual basis of accounting. Recognize the general ledger accounts that a church might use. Identify the efficiencies that a church bookkeeper could employ. Recognize the church-specific disclosures that might accompany its financial statements. Specify the federal government reporting associated with payments to church suppliers. Identify the requirements to be classified as a minister for tax purposes. Recognize the special tax exemptions and requirements for churches. Specify the federal government reporting forms needed for church employees. State the deposit dates associated with the two types of payroll tax deposit schedules. Identify which costs should be capitalized into church fixed assets. Recognize the budgeting best practices that can be applied to a church. Specify the donor acknowledgment criteria that a church must follow. Identify the options for retaining tax-deductibility for pass-through donations. Recognize the controls that can be applied to church accounting systems.

The Nonprofit Aspects of Church Accounting Fund Accounting Net Assets Church Chart of Accounts Accounting for Offerings Accounting for Payables Accounting for Credit Card Payments Accounting For Reimbursements Form 1099 Issuances Dealing with Donations IRS Information Return for Donations Pass-Through Donations Donated Labor Discounted Pricing on Purchases The Risk of Church Fraud Church Controls Low-Cost Church Controls