Not-For-Profit

Accounting: Reporting

and Analysis

Course Description:

The Financial Accounting Standards Board (FASB) provides guidance for communication of a not-for-profit organization’s (NFPO) financial performance and condition to stakeholders (e.g. donors, grantors, creditors). To assist management and auditors in preparing financial statements and performing engagements, this course provides an overview of the accounting and reporting framework applicable to NFPOs that apply FASB standards. It also discusses accounting by specific nonprofits - colleges and universities, voluntary health and welfare organizations, and health care entities. Finally, the course describes financial analysis and ratios that can be useful to analyze the financial fitness of NFPOs.

Learning Objectives:

Upon successful completion of this course, participants will 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
• Recognize different examples of ratio analysis