Not-for-profit organizations are one of the fastest-growing sectors of our economy, making it increasingly important that auditors, attorneys, CFOs and other advisers understand the unique accounting principles and challenges that apply.
Examine the core principles and practices of not-for-profit accounting; review the general characteristics and operational environment of not-for-profit organizations; and discuss how to apply generally accepted standards and principles. Also, learn risk management best practices and common accounting errors.
Formerly titled: Not-for-Profit Organizations: Accounting and Auditing Principles and Applications
Identify accounting and reporting differences between for-profit and not-for-profit organizations.
Determine fundamental accounting rules of not-for-profits.
Recognize allocation methodologies and how they impact financial statements and external oversight.
Identify hidden risk areas for not-for-profits to enhance audit procedures.
Not-for-profit GAAP
Expense allocation methodologies
Risk management
Accounting errors
CPAs, CFOs, attorneys, bankers, board members and consultants.
Understanding of intermediate accounting theory and practice; experience with and knowledge about the financial operations of a nonprofit organization.
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