In the complex world of not-for-profit organizations (NFPOs), effective communication of financial performance and condition is crucial for maintaining trust and transparency with stakeholders like donors, grantors, and creditors. However, the challenge arises in navigating the comprehensive accounting and reporting framework provided by the Financial Accounting Standards Board (FASB). This accounting for nonprofits course offers a solution by providing a detailed overview of the FASB standards applicable to NFPOs. It delves into specific accounting practices for various nonprofits, including colleges, health organizations, and healthcare entities. Moreover, the nonprofit accounting course examines the need for accurate financial analysis and introduces essential ratios to evaluate the financial health of NFPOs. Through this nonprofit CPE course, participants will gain valuable insights and skills to ensure their NFPOs adhere to high standards of financial reporting and analysis, vital for organizational success and credibility.
Learning Objectives
After completing this course, you should be able to:
Identify the objectives of financial reporting by not-for-profit organizations (NFPOs);
Identify financial statement presentation and disclosure for NFPOs;
Recognize how net assets are affected by different types of transactions;
Recognize the method of grouping expenses according to the purpose for which costs are incurred;
Distinguish between a contribution and an exchange transaction;
Distinguishing between conditional and unconditional contributions;
Recognize net asset presentation requirements of higher education;
Identify major functional expense classes of voluntary health and welfare organizations;
Recognize accounting rules of charity care and malpractice claims for private not-for-profit hospitals; and
Recognize different examples of ratio analysis.
Major Topics
Nonprofit Accounting and Auditing
Colleges and Universities
Voluntary Health and Welfare Organizations
Health Care Entities
Financial Analysis and Performance Measurement
