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Exchange and Agency Transactions: Not-for-Profit Accounting & Financial Reporting
CPE Self-study

Exchange and Agency Transactions: Not-for-Profit Accounting & Financial Reporting

Learn accounting for exchange and agency transactions, including recognition, measurement, and financial statement display issues that are unique to not-for-profit entities.

$52 - $75
Do you have an AICPA membership? Log in to apply your member discount.

Format

Online

NASBA Field of Study

Accounting

Level

Basic

CPE Credits

1.5

Author(s)

Karen Craig

Availability

1 year

Product Number

188022

 Business & partner 
Learning Outcomes
  • Differentiate between exchange transactions, contributions, and agency transactions.
  • Identify examples useful in distinguishing contributions from exchange transactions.
  • Recall key concepts regarding exchange transactions.
Key Topics
  • Grants, awards, and sponsorships
  • Service fees
  • Special fundraising events and campaigns
  • Product and merchandise sales
  • Membership dues
  • Donor-advised funds
  • Agency transactions
  • Variance power
  • Financially interrelated entities
Product Details

This CPE course is included in the comprehensive Not-for-Profit Certificate I Program. It can also be purchased individually or as a part of the Not-for-Profit Accounting and Financial Reporting track.

To achieve financial sustainability, NFPs diversify their revenue streams. Funding sources may include a mix of contributions, grants, awards and sponsorships, and earned income from the sale of goods or services. Under GAAP, these transactions are classified as contributions or exchange transactions, or a combination of both. Some exchange transactions take the form of agency arrangements when the NFP has little discretion over the use of the assets that it receives. Your ability to differentiate between these types of transactions is vital to successful preparation of financial statements in the NFP reporting environment. This on-demand, nteractive CPE course provides real-world examples to help you understand how to distinguish contributions from exchange transactions. You will also learn about basic financial statement presentation and disclosures related to these transactions.

Note: As of August 1, 2018, the content of this course has been significantly updated to reflect implementation of FASB Accounting Standards Updates (ASUs) effective for most not-for-profit entities for their next financial reporting period, including those related to financial statement presentation (ASU 2016-14) and revenue recognition (ASU 2014-09 and ASU 2018-08). f you started Not-for-Profit Certificate I prior to July 31, but did not complete it, click here to find out how this and related course updates affect you. If you completed the program prior to July 31 and would like to retake only those courses with significant updates for new standards, click here to learn about the Certificate I Update Pack.

Pricing
Do you have an AICPA membership? Log in to apply your member discount.
Nonmembers
Online
$75.00
AICPA Members
Online
$65.00
NFP Section Members
Online
$52.00

Group ordering for your team

2 to 5 registrants

Save time with our group order form. We’ll send a consolidated invoice to keep your learning expenses organized.

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6+ registrants

We can help with group discounts. Call us at 1-800-634-6780 (option 1) or email us at salessupport@aicpa.org

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Credit Info
CPE Credits
Online
1.5
NASBA Field of Study
Accounting
Level
Basic
Prerequisites
Knowledge of the not-for-profit industry
Access
Online
This is a digital product. You will have access to the content for 1 year after purchase date.
Yellow Book Hours
1
Instructors
Karen Craig
Karen Craig, CPA, is a consultant providing technical accounting, reporting, finance, and analytical expertise to not-for-profits with a focus on higher education. She holds a degree in journalism and an MBA from California Polytechnic State University and is a licensed CPA in California. From 2002 to 2009, Karen was an Associate Controller at Stanford University where she was responsible for the overall operations of the university's investment accounting, financial reporting, capital accounting, payroll and disbursements departments. Prior to her work at Stanford, she was Controller for a software startup company and a Senior Audit Manager with PricewaterhouseCoopers. Karen hold memberships in the AICPA, in which she is an ex-officio member of the AICPA Not-for-Profit Industry Expert Panel, and the National Association of College and University Business Officers (NACUBO) in which she is a technical advisor to its Accounting Principles Council.
Shipping and delivery
Shipping costs  and sales taxes will be added later during checkout
Accessibility

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Exchange and Agency Transactions: Not-for-Profit Accounting & Financial Reporting
Select from the following options:
Online
$75.00
Nonmember Price
$75.00
Price excluding sales tax
$75.00
Do you have an AICPA membership? 
Log in to apply your member discount.
Shipping cost and sales tax will be added later during checkout

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