The Form 990’s approach to reporting financial statements initially seems easy as it follows the filer’s books with only a modest amount of “990 instructions”-required changes. Unfortunately, those changes reflect multiple conventions the IRS uses to replace GAAP treatment that many filers otherwise would follow!
Preparers need be able to recognize and apply the 990’s non-recognition of both the donation of services or discounts on accessing others’ properties and mark-to-market valuation of invested assets. Furthermore, many of the 990’s revenue categories are unique to sector-practices and/or have 990-specific reporting needs. The materials and the author/instructor readily inform preparers as to how the maze of foundational pieces that must be mastered prior to working on the form’s three financial statement parts.
This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.
After attending this presentation you will be able to…
The major topics that will be covered in this class include:
Public accounting tax and audit staff, and nonprofit organization’s Treasurers, CFOs and finance/compliance staff
None, although helpful to have some knowledge of how the Form 990 is structured