Self-Study

Statement of Financial Position

  • Thursday, August 15, 2019 – Thursday, April 30, 2020

  • 1
    CREDITS
    Accounting (Governmental)

A not-for-profit (NFP) organization's statement of financial position (SFP) is a vital tool to communicate information about an organization's liquidity, financial flexibility and ongoing sustainability. This CPE course offers you detail-rich examples and case studies that will help you account for common transactions and successfully prepare an NFP's statement of financial position.

Objectives

? Determine how to prepare, in accordance with GAAP, a statement of financial position (SFP).
? Identify the most appropriate financial statement format, considering the complexity of the entity.
? Determine the effect of a particular transaction or significant event on the reporting entity's SFP.
? Distinguish the reporting of net asset classification in the SFP.

Highlights

? Restricted cash
? Promises to give
? Investments
? Assets held in charitable trusts
? Endowments
? Net assets
? Agency liabilities
? Obligations under split-interest agreements
? Classified financial statements

Additional Information

Designed For

CPAs, financial professionals and NFP staff and board members looking to deepen their existing knowledge of NFP financial responsibility, and set themselves apart as a leader in this field

Vendor

American Institute of CPAs

Credits

1.00 Accounting

Course Number

19AIS076

Level of Knowledge

Intermediate

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