Are you aware of the accounting treatment of transactions unique to the not-for-profit environment? During this course you will gain hands-on experience with case studies designed to simulate real-world scenarios and common problems in today’s not-for-profit environment. This course goes beyond the theory and will show you how to navigate the key issues that arise in not-for-profit accounting and auditing.
Course ID: CNFP
Case Studies in Not-for-Profit Accounting and Auditing
- Identify the accounting differences between contribution and exchange transaction revenues.
- Recall key issues relating to the recording and valuation of contributed services.
- Identify key accounting issues related to pledges and special event costs associated with a capital campaign.
- Recognize financial statement presentation deficiencies by reviewing an incorrectly prepared statement.
- Apply important auditing concepts to a statement of functional expenses.
- Determine effective audit procedures to employ in response to identified fraud risk factors.
- Analyze critical concepts involved in auditing contributions.
- Financial statement requirements
- Net asset classifications: unrestricted, temporarily restricted, and permanently restricted net assets
- Consideration of fraud
- Promises to give
- Distinguishing contributions from exchange transactions
- Auditing contributions
- Contributed services
- Split-interest agreements
- Assessing internal control deficiencies
- Capital campaigns and special events
- Fundraising events and membership
- Allocation of costs relating to fundraising
- Audit issues related to the statement of functional expenses