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Course Details

Financial Essentials for Nonprofit Managers - v06 (Course Id 1347)

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Author : Jae K. Shim, Ph.D., CPA
Status : Production
CPE Credits : 13.0
IRS Credits : 0
Price : $107.95
Passing Score : 70%
NASBA Technical: Yes
Primary Subject-Field Of Study:

Specialized Knowledge - Specialized Knowledge for Course Id 1347

Description :

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 organizations 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
Release : 2016
Version : 1.0
Prerequisites : None.
Experience Level : Overview
Additional Contents : Complete, no additional material needed.
Additional Links :
Advance Preparation : None.
Delivery Method : Self-Study
Intended Participants : Anyone needing Continuing Professional Education (CPE).
Revision Date : 15-Mar-2018
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 - NASBA Registry - 1347

Keywords : Accounting, Financial, Essentials, Nonprofit, Managers, v06, cpe, cpa, online course
Learning Objectives :

Chapter 1
What Every Nonprofit Manager Should Know About Accounting and Finance

After studying this chapter, you will be able to:
    1. Recognize financing options available to nonprofit organizations.
    2. Identify different cost types and classification for the nonprofit organization.
    3. Recognize costs that are relevant to nonprofit decision making.

Chapter 2
Accounting Basics for Nonprofits

After studying this chapter, you will be able to:
    1. Recognize the use of accrual vs. cash basis accounting.
    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.

Chapter 3
Cost-Volume-Revenue Analysis: Are We Breaking Even?

After studying this chapter, you will be able to:
    1. Identify the concepts answered by Cost-Volume-Revenue (CVR) analysis.
    2. Differentiate among the methods to analyze financial statements.
    3. Recognize components of the break even analysis.

Chapter 4
Financial Analysis And Metrics: Avoiding Bankruptcy

After studying this chapter, you will be able to:
    1. Recognize different examples of trend analysis.
    2. Identify objectives in analyzing the statement of activities and different performance measures.

Chapter 5
Forecasting: Revenues, Costs, and Cash Flows

After studying this chapter, you will be able to:
    1. Identify different examples of qualitative and quantitative forecasting methodology.
    2. Recognize the various elements used for exponential smoothing and regression analysis.

Chapter 6
The Budgeting Process: Device for Planning and Control

After studying this chapter, you will be able to:
    1. Identify between the various types of budgets.
    2. Recognize characteristics of different budgets and how to measure their effectiveness.

Chapter 7
Zero Base Budgeting and Program Budgeting

After studying this chapter, you will be able to:
    1. Recognize the elements and characteristics of Zero Base Budgeting (ZBB).
    2. Identify the characteristics and the time considerations of program budgeting process.

Chapter 8
Cost Behavior, Cost Control, and Flexible Budgeting

After studying this chapter, you will be able to:
    1. Identify how cost behavior and variance analysis can assist with the budgeting process.
    2. Calculate different costs and variances for the budgeting process.

Chapter 9
Enhancing Managerial and Departmental Performance

After studying this chapter, you will be able to:
    1. Recognize use of mission centers and service centers for nonprofit organizations.
    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

Chapter 10
Obtaining Funds: Short-Term and Long-Term Financing

After studying this chapter, you will be able to:
    1. Calculate costs associated with different sources financing.
    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.

Chapter 11
Managing Working Capital and Investing Surplus Funds

After studying this chapter, you will be able to:
    1. Identify examples of the various cash models available.
    2. Recognize costs that impact working capital.
    3. Differentiate between investment objectives.
    4. Identify different financial instruments available for investing surplus funds

Chapter 12
Cost Management and Pricing Decisions

After studying this chapter, you will be able to:
    1. Recognize the purpose for allocating service center costs to mission centers.
    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.

Chapter 13
Analysis for Short-Term and Capital Expenditure Decisions and Financial Modeling

After studying this chapter, you will be able to:
    1. Recognize components of the make or buy decision.
    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

Learning Objectives

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

Learning Objectives

Chart of Accounts

Statement of Financial Position (Balance Sheet)

Accrual vs. Cash Basis

Statement of Activities

Statement of Cash Flows

Disclosures

Supplementary Statements

Restricted Resources

Grants

Contributions

Pledges

Bargain Purchases of Goods or Services

Bequests

Fund Accounting

Encumbrances

Budget Recording and Accountability

Auditing

Internal Controls

Nonprofits Transparency

Nonprofit Organizations and Financial Reporting

Accounting by Specific Nonprofit Organizations

Chapter 2 Review Questions

Chapter 3:    Cost-Volume-Revenue Analysis: Are We Breaking Even?

Learning Objectives

Questions Answered by CVR Analysis

CVR Concepts

Break-Even Analysis

Program Mix Analysis

Management Options

Chapter 3 Review Questions

Chapter 4:    Financial Analysis And Metrics: Avoiding Bankruptcy

Learning Objectives

Trend Analysis

Analysis of the Balance Sheet

Evaluation of the Statement of Activities

Disclosures

Performance Metrics

Fund Raising Ability

Analysis of Pledges

Analysis of Contributions

Looking At Endowments

Evaluation of Grants

Risk/Return Analysis

Audit Reliability

Software

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

Learning Objectives

Forecasting Methodology

The Qualitative Approach

Common Features and Assumptions Inherent In Forecasting

Steps in the Forecasting Process

Moving Averages and Smoothing Methods

Regression Analysis

Trend Analysis

Multiple Regression

Evaluation of Forecasts

Survey of Forecasting Methods Used

Chapter 5 Review Questions

Chapter 6:    The Budgeting Process: Device for Planning and Control

Learning Objectives

Strategic Planning

"What-If" Analysis

Contingency Planning

Types of Budgets

Cash Basis vs. Accrual Basis Budgets

Capital Budget

Operating Budget

Cash Budget

Budget Appraisal

Variance Determination and Analysis

Budgetary Control

Support or Capital Additions

Encumbrances

Fund Raising

Budget Calendar

Budgeting for Specific NPOs

Chapter 6 Review Questions

Chapter 7:    Zero Base Budgeting and Program Budgeting

Learning Objectives

Zero Base Budgeting

Program Budgeting

Chapter 7 Review Questions

Chapter 8:    Cost Behavior, Cost Control, and Flexible Budgeting

Learning Objectives

Analysis of Cost Behavior

The High-Low Method

Regression Analysis

Flexible Budgeting and Cost Control

Standard Costs and Variance Analysis

Chapter 8 Review Questions

Chapter 9:    Enhancing Managerial and Departmental Performance

Learning Objectives

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

Learning Objectives

Seed Capital

Joint Ventures

Internally Generated Funds

Annual Membership Dues

Sales of Merchandise

Trade Credit

Fund Raising

Long-Term Debt: Mortgages and Bonds Payable

Chapter 10 Review Questions

Chapter 11:    Managing Working Capital and Investing Surplus Funds

Learning Objectives

Using Working Capital Management Effectively

Cash Management

Cash Models

Banking Relationships

Management of Pledges and Other Receivables

Inventory Management

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

Learning Objectives

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

Activity-Based Costing

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

Learning Objectives

Make or Outsource Decision

Evaluating a Proposal to Discontinue a Program

Capital Budgeting

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

CPE Specialized Knowledge and Applications Course: https://www.cpethink.com/non-profit-cpe
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