Offers interpretations and case studies that will help you learn how to prepare an NFP's statement of activities.
NASBA Field of Study
This video-based CPE course is included in the Not-for-Profit Certificate II Program. It can be purchased individually or as a part of the Not-for-Profit Certificate II - Financial Reporting track.
How does your not-for-profit (NFP) evaluate financial performance? Of all the financial statements, the statement of activities is among the most useful to an NFP's managers and constituents. The statement of activities reports revenues, gains, expenses, and losses for the period. It is a useful tool in assessing an NFP's service efforts and its ability to continue to provide services to sustainably carry out its mission. There are numerous ways in which an NFP's statement of activities differs from the income statement of a for-profit business. For example, to properly present revenues and gains, one will need to understand how donorimposed stipulations affect classification. This CPE course offers you detail-rich interpretations and case studies that will help you learn to prepare an NFP's statement of activities. Included as a course resource is a sample statement of activities.
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). If you started but did not complete Not-for-Profit Certificate II prior to July 31, 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 II Update Pack.
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