Self-Study

Financial Statement Presentation

  • Monday, May 1, 2017 – Monday, April 30, 2018

  • 2
    CREDITS
    Accounting

Not-for-profit organizations (NFPs) prepare financial statements in order to report critical information about programs and operations to a diverse group of stakeholders. Users of an NFP's financial statements include donors, grantors, creditors, program beneficiaries, and others who have a need to assess the financial health of the NFP. In this CPE course, you will work through several examples to understand the basic reporting requirements, note disclosures and presentation formats that are available to NFPs.

Objectives

  • Identify the basic financial statements prepared by NFPs
  • Recall various reporting formats used by NFPs
  • Identify the unique NFP note disclosure requirements
  • Differentiate between the three classes of net assets and the effect on financial reporting

Highlights

  • Statement of financial position
  • Statement of activities
  • Statement of cash flows
  • Statement of functional expenses
  • Net asset classification
  • Required note disclosures

Additional Information

Designed For

CPAs who are new to NFPs, entry-level staff in public accounting firms, seasoned professionals with limited exposure to NFPs, and NFP board members

Vendor

American Institute of CPAs

Field of Study

Accounting

Course Number

17AIS0035

Level of Knowledge

Basic

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