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Course Information

Course No: 142021

Course Name: Not-for-Profit Accounting: Reporting and Analysis

Field of Study: Accounting

Course Description:

Business organizations obtain resources by providing goods and services. Many not-for-profit organizations (NFPOs) obtain resources from contributors and are accountable to the providers of those resources or to their representatives. In general, GAAP requires NFPOs to issue a statement of financial position, a statement of activities, and a statement of cash flows. The focus is on the organization as a whole and on reporting assets, liabilities, and net assets; changes in net assets; flows of economic resources; cash flows, borrowing and repayment of borrowing, and other factors affecting liquidity; and service efforts. This course addresses the accounting and financial reporting for NFPOs (or NPOs) colleges and universities, healthcare providers, voluntary health and welfare organizations (VHWOs), and other not-for-profit entities such as religious, educational, social, and recreational entities. Also addressed is financial analysis and ratios that can be useful to analyze the financial fitness of NFPOs.

Learning objectives: After completing this section, you should be able to:

Identify the auditing of and reporting requirements on the financial statements of governmental voluntary health and welfare organizations (VHWOs).
Recognize the typical funds used to account for VHWO transactions.
Recognize the reporting on the financial statements of other not-for-profit organizations (ONFPOs).
Calculate depreciation financial reporting for ONFPOs.
Recognize different examples of trend analysis.
Identify the auditing of and reporting requirements on the financial statements of governmental voluntary health and welfare organizations (VHWOs).
Recognize the typical funds used to account for VHWO transactions.
Recognize the reporting on the financial statements of other not-for-profit organizations (ONFPOs).
Identify methods of depreciation reporting for ONFPOs.
Recognize the financial statement reporting requirements for revenue for healthcare providers.
Identify reporting requirements of higher education.
Recognize the types of and components of financial statements mandated by GAAP for not-for-profit organizations.
Identify the difference between net assets with donor restrictions and net assets without donor restrictions for an NFPO and how these organizations should report contributions and other revenue sources.

Course Material: Online Material

Program level: Basic to Intermediate

Prerequisites: None

Advance preparation: None

Type of delivery method: QAS Self-study

Recommended CPE credits: 5.0

Final examination expiration date: The program participant will have one year from the date of purchase to complete the course and final examination.