|Author :||Jae K. Shim, Ph.D., CPA|
|CPE Credits :||13.0|
|IRS Credits :||0|
|Passing Score :||70%|
|Course Type:||NASBA QAS - Text - Technical - NASBA Registry|
|Primary Subject-Field Of Study:||
Specialized Knowledge - Specialized Knowledge for Course Id 1347
Managers of nonprofit organizations (NPOs) generally are not skilled in financial matters. Or, managers are often preoccupied with its welfare objectives and fund raising and ignore the operations efficiency and operating cost controls. A series of appropriate questions that nonprofit financial managers must address in connection with an organization’s financial condition and activity include: 1. Do we have a profit or a loss? 2. Do we have sufficient reserves? 3. Are we liquid? 4. Do we have strong internal controls? 5. Are we operating efficiently? 6. Are we meeting our budget? 7. Are our programs valid? 8. Are we competing successfully? 9. Is our prioritizing of programs and activities reasonable? The course is an attempt to help answer these questions.
|Usage Rank :||0|
|Experience Level :||Overview|
|Additional Contents :||Complete, no additional material needed.|
|Additional Links :|
|Advance Preparation :||None.|
|Delivery Method :|
|Intended Participants :||Anyone needing Continuing Professional Education (CPE).|
|Revision Date :||15-Sep-2019|
|NASBA Course Declaration :||Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam.|
|Approved Audience :||
NASBA QAS - Text - Technical - NASBA Registry - 1347
|Keywords :||Accounting, Financial, Essentials, Nonprofit, Managers, v06, cpe, cpa, online course|
|Learning Objectives :||
2. Identify different cost types and classification for the nonprofit organization.
3. Recognize costs that are relevant to nonprofit decision making.
2. Identify the processes of budget recording and accountability.
3. Recognize GASB rules for nonprofit financial statements.
4. Identify examples of accounting by specific nonprofit organizations.
2. Differentiate among the methods to analyze financial statements.
3. Recognize components of the break even analysis.
2. Identify objectives in analyzing the statement of activities and different performance measures.
2. Recognize the various elements used for exponential smoothing and regression analysis.
2. Recognize characteristics of different budgets and how to measure their effectiveness.
2. Identify the characteristics and the time considerations of program budgeting process.
2. Calculate different costs and variances for the budgeting process.
2. Identify the role of the contribution approach to cost allocation for measuring performance of responsibility centers.
3. Recognize how cost allocations can affect performance metrics for managerial control
2. Estimate future NPO budgets based on past donations.
3. Differentiate between fixed, variable and semi-variable costs.
4. Calculate the cost of long-term debt financing.
2. Recognize costs that impact working capital.
3. Differentiate between investment objectives.
4. Identify different financial instruments available for investing surplus funds
2. Differentiate among cost allocation techniques using the direct method, step-down (two-stage) method, and reciprocal method.
3. Identify the benefits of activity-based costing (ABC) and some factors that can be used in ABC.
2. Compute the present values and pay-back periods in a make or buy decision.
3. Identify different types of investment instruments and financial models.
|Course Contents :||
Chapter 1: What Every Nonprofit Manager Should Know About Accounting and Finance
Characteristics of Nonprofit Organizations
More on For-Profit and Nonprofit Characteristics
Cost Concepts and Terminology
Chapter 1 Review Questions
Chapter 2: Accounting Basics for Nonprofits
Chart of Accounts
Statement of Financial Position (Balance Sheet)
Accrual vs. Cash Basis
Statement of Activities
Statement of Cash Flows
Bargain Purchases of Goods or Services
Budget Recording and Accountability
Nonprofit Organizations and Financial Reporting
Accounting by Specific Nonprofit Organizations
Chapter 2 Review Questions
Chapter 3: Cost-Volume-Revenue Analysis: Are We Breaking Even?
Questions Answered by CVR Analysis
Program Mix Analysis
Chapter 3 Review Questions
Chapter 4: Financial Analysis And Metrics: Avoiding Bankruptcy
Analysis of the Balance Sheet
Evaluation of the Statement of Activities
Fund Raising Ability
Analysis of Pledges
Analysis of Contributions
Looking At Endowments
Evaluation of Grants
Spotting Potential Bankruptcy and Avoiding Financial Problems
Case Study in Financial Statement Analysis:
Appendix* To Chapter 4
Chapter 4 Review Questions
Chapter 5: Forecasting: Revenues, Costs, and Cash Flows
The Qualitative Approach
Common Features and Assumptions Inherent In Forecasting
Steps in the Forecasting Process
Moving Averages and Smoothing Methods
Evaluation of Forecasts
Survey of Forecasting Methods Used
Chapter 5 Review Questions
Chapter 6: The Budgeting Process: Device for Planning and Control
Types of Budgets
Cash Basis vs. Accrual Basis Budgets
Variance Determination and Analysis
Support or Capital Additions
Budgeting for Specific NPOs
Chapter 6 Review Questions
Chapter 7: Zero Base Budgeting and Program Budgeting
Zero Base Budgeting
Chapter 7 Review Questions
Chapter 8: Cost Behavior, Cost Control, and Flexible Budgeting
Analysis of Cost Behavior
The High-Low Method
Flexible Budgeting and Cost Control
Standard Costs and Variance Analysis
Chapter 8 Review Questions
Chapter 9: Enhancing Managerial and Departmental Performance
The Long and Short of Responsibility Accounting
Responsibility Accounting and Responsibility Center
Mission Centers and Service Centers
Segmental Reporting For Mission Centers
Performance Measures for Managerial Control
Chapter 9 Review Questions
Chapter 10: Obtaining Funds: Short-Term and Long-Term Financing
Internally Generated Funds
Annual Membership Dues
Sales of Merchandise
Long-Term Debt: Mortgages and Bonds Payable
Chapter 10 Review Questions
Chapter 11: Managing Working Capital and Investing Surplus Funds
Using Working Capital Management Effectively
Management of Pledges and Other Receivables
Investing Surplus Funds and Investment Strategies
Other Money-Market (Short-Term Fixed Income) Securities
How to Compute the Yield on Securities
How Do You Choose Money Market Funds?
Chapter 11 Review Questions
Chapter 12: Cost Management and Pricing Decisions
Cost Analysis for Pricing
Cost Finding and Pricing
Allocation of Service Center Costs to Mission Centers
Procedure for Service Center Cost Allocation
Organizational Considerations of Cost Control
More On Why to Use Activity-Based Costing (ABC)
Number of claims filed
Chapter 12 Review Questions
Chapter 13: Analysis for Short-Term and Capital Expenditure Decisions and Financial Modeling
Make or Outsource Decision
Evaluating a Proposal to Discontinue a Program
Understanding the Concept of Time Value of Money
How Do You Measure Investment Worth?
How to Select the Best Mix of Projects with a Limited Budget
The Choice of the Discount Rate and the Cost of Capital
Lease versus Purchase
Program Analysis through Financial Modeling
Chapter 13 Review Questions
Glossary of Nonprofit Financial Management Terms