Upload File

not for profit entities

Download Not For Profit Entities

If you can't read please download the document

Upload: christopher-farrell-cpa

Post on 27-May-2015

103 views

Category:

Education


1 download

Report

DESCRIPTION

This is a broad overview of not for profit accounting for purposes of preparing for the FAR section of the CPA Exam.

TRANSCRIPT

  • 1. PrivateNot For ProfitEntities

2. Standard SetterFASB(GASB for governmental not for profit entities) 3. Basis of AccountingAccural 4. Financial StatementsStatement of Financial PositionStatement of ActivitiesStatement of Cash Flows 5. Financial StatementsStatement of Functional Expensesis Required forVHWOs 6. RevenueContributions are revenue to a not for profit 7. ContributionsRecord at Fair Value 8. ContributionsCan be restricted by the donor 9. Contributed ServicesDEBIT Expense or AssetCREDIT Revenue 10. Contributed ServicesRecorded WhenSkill and ValueAre Present 11. SkillRequired to Perform The ServicePossessed By The Person Providing Service 12. ValueEntity Would Otherwise Hire SomeoneImpact on Non Financial Assets 13. PledgesRecord When UnconditionalRecord Allowance for Uncollectible Pledges ifApplicable 14. Multi Year PledgesDiscountAmortizeRestricted 15. DiscountMulti Year Pledge is Recorded at Present Value 16. AmortizeRevalue Each PeriodDiff is Contribution RevenueNOTInterest Income 17. RestrictedPledges are not available until received 18. Fixed AssetsCan be restricted or unrestricted 19. Restricted Fixed AssetsReclass Net Assets WhenDepreciation Is Recorded 20. If RestrictedDebit Reclass From Restricted Net AssetsCredit Reclass To Unrestricted Net Assets


Exciting Updates in Accounting and Tax for Nonprofits · •ASU 2016-14,Not-for-Profit Entities (Topic 958) -Presentation of Financial Statements of Not-for-Profit Entities •Revenue

2013 NOT-FOR-PROFIT ENTITIES OVERVIEW FOR KNOWLEDGE …

Not-for-profit entities - 2020

Revenue and income standards for not-for-profit entities ......Nov 20, 2018  · Not-for-profit entities Implementing the new revenue and income standards 20 November 2018

Presentation of Financial Statements of Not-For-Profit entities NFP asu-2016-14_implementation

IRVINE PRESBYTERIAN CHURCH INCORPORATED...Accounting Standards Update (ASU) No. 2016-14, Not-for-Profit Entities (Topic 958): Presentation of Financial Statements of Not-for-Profit

2020 NOT-FOR-PROFIT ENTITIES OVERVIEW FOR KNOWLEDGE COACH …€¦ · 2020 NOT-FOR-PROFIT ENTITIES OVERVIEW FOR KNOWLEDGE COACH USERS PURPOSE This document is published for the purpose

Wiley Not-for-Profit...set generally accepted accounting principles for both public and nonpublic entities, including not-for-profit organizations. However, the FASB’s agenda has

Not-for-Profit Accounting and Auditing Supplement No. 3 2020...Not-for-Profit Entities (Topic 958): Presentation and Disclosures by Not-for-Profit Entities for Contributed Nonfinancial

Income of Not-for-Profit Entities

In This Issue Accounting Roundup - Deloitte US · FASB Proposes Technical Correction for Not-for-Profit Entities Affects: Not-for-profit entities. Summary: On October 27, 2016, the

The University of South Carolina Development Foundation and … · 2019. 10. 8. · Not-for-Profit Entities (Topi c 958): Presentation of Financial Statements of Not -for-Profit Entities

Not-for-Profit Entities: 2012/2013 Audit & Accounting Considerations A Governmental Audit Quality Center and Not-for-Profit Expert Panel Web Event November

Not-for-Profit Entities (Topic 958) - fasb.org 2013-06.pdf · that constitutes a work of the United States Government. ... Accounting Standards Update 2013-06 Not-for-Profit ... not-for-profit

AASB 1058 Income of Not-for-Profit Entities · Australian Accounting Standard AASB 1058 Income of Not-for-Profit Entities is set out in paragraphs 1 ... (eg AASB 15). Other Australian

Chapter 1 Financial Reporting for Governmental and Not-for-Profit Entities

Not For Profit Entities: 2019 Audit and Accounting Issues

Examples Taken From AICPA 2018 Governmental & Not-For-Profit … · 2018-12-18 · 2016-14 - Not-for-Profit Entities (Topic 958): Presentation of Financial Statements of Not-for-Profit

Financial reporting by not-for-profit entities in New ... · PDF fileFinancial reporting by not-for-profit entities in New Zealand Your questions answered ... 2 Who has a statutory

AASB 1058 Income of Not-for-Profit Entities - ja.com.au · Income of not-for-profit entities 6 • Customer – party that promises consideration in exchange for a transfer of goods

New Accounting Rules: What you need to Know• ASU 2016-14 Not-for-Profit Entities (Topic 958): Presentation of Financial Statements of Not-for-Profit Entities: • Scope and Effective

ACCOUNTING UPDATE FOR NOT-FOR-PROFIT ENTITIES ......Accounting Update for ot-for-Profit Entities: Revenue Recognition 3 Museum Example Step 1: An individual purchases a membership

Chapter 19 Not-For-Profit Entities - CPA Diary · Web viewChapter 19 Not-For-Profit Entities Answer Key Multiple Choice Questions 1. Which rule-making body is currently setting standards

Not-for-Profit Entities (Topic 958) - FASB 2013-06.pdf ·  · 2013-04-19Not-for-Profit Entities (Topic 958) ... The revenue recognition guidance for not-for-profit entities requires

How ASU 2016-14 Will Affect Your Not- for-Profit Entities · 2019-12-19 · How ASU 2016-14 Will Affect Your Not-for-Profit Entities Part II: ... NFP Financial Statements Project

JACQUELINE L. RECK SUZANNE L. LOWENSOHN Accounting for ...horowitk/documents/Chapter... · distinguish governmental and not -for-profit entities from for-profit entities 2. Identify

Proposed ASU—Not-for-Profit Entities (Topic 958)

Incentive compensation – Comp & Benefits for Not-for-Profit Entities

Not-for-Profit Entities (Topic 958) - FASB · PDF fileAccounting Standards Update 2016-14 Not-for-Profit Entities (Topic 958) Presentation of Financial Statements of Not-for-Profit

Not-For-Profit Accounting: Reporting And Analysis · Chapter 1: Not-For-Profit Organizations ... ASC 958-320-05-2, Not-for-Profit Entities: ... the role the government has in not-for-profit

UNITED WAY OF SOUTH HAMPTON ROADS AND AFFILIATES ... · 14, Not-for-Profit Entities (Topic 958) – Presentation of Financial Statements for Not-for-Profit Entities and ASU 2016-18,

Non profit Accounting and Financial Reporting Update...Non profit Accounting and Financial Reporting Update Financial Statements of Not-for-Profit Entities Disclosure Framework Simplification

Not-for-Profit Entities (Topic 958) · within the scope of Topic 958, Not-for-Profit Entities, or as exchange (reciprocal) transactions subject to other guidance and (2) determining

LLM dissertation LAW790 JM Bawden 9 November 2008docs.business.auckland.ac.nz/...not-for-profit-organisations-in-New... · Not-for-profit entities differ significantly in governance

Hot topics – Comp & Benefits for Not-for-Profit Entities