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| Author : | Jae K. Shim, Ph.D., CPA |
| Course Length : | Pages: 167 ||| Review Questions: 59 ||| Final Exam Questions: 60 |
| CPE Credits : | 12.0 |
| IRS Credits : | 0 |
| Price : | $103.95 |
| Passing Score : | 70% |
| Course Type: | NASBA QAS - Text - Technical - NASBA Registry |
| Primary Subject-Field Of Study: | Finance - Finance for Course Id 1781 |
| Description : | Managers of nonprofit organizations (NPOs) generally are not skilled in financial matters. Or, managers may be 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 |
| Release : | 2021 |
| Version : | 1.0 |
| Prerequisites : | None. |
| Experience Level : | Overview |
| Additional Contents : | Complete, no additional material needed. |
| Additional Links : |
Do Nonprofit Organizations Have Working Capital?
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| Advance Preparation : | None. |
| Delivery Method : | QAS Self Study |
| Intended Participants : | Anyone needing Continuing Professional Education (CPE). |
| Revision Date : | 26-Jan-2021 |
| 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 - 1781 |
| Keywords : | Finance, Financial, Essentials, Nonprofit, Managers, v10, cpe, cpa, online course |
| Learning Objectives : |
Chapter 1
2. Identify different cost types and classification for the nonprofit organization. 3. Recognize costs that are relevant to nonprofit decision making. Chapter 2
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
2. Differentiate among the methods to analyze financial statements. 3. Recognize components of the break even analysis. Chapter 4
2. Identify objectives in analyzing the statement of activities and different performance measures. Chapter 5
Chapter 6
2. Recognize characteristics of different budgets and how to measure their effectiveness. Chapter 7
2. Identify the characteristics and the time considerations of program budgeting process. Chapter 8
2. Calculate different costs and variances for the budgeting process. Chapter 9
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
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
2. Recognize costs that impact working capital. 3. Differentiate between investment objectives. 4. Identify different financial instruments available for investing surplus funds Chapter 12
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
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 Statement of Financial Position (Balance Sheet) Accrual vs. Cash Basis Statement of Activities Statement of Cash Flows Supplementary Statements Resources with Donor Restrictions Grants Contributions Pledges Bargain Purchases of Goods or Services Bequests Disclosures 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 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 Different Quantitative Forecasting Methods Evaluation of Forecasts Chapter 5 Review Questions Chapter 6: The Budgeting Process: Planning and Control Learning Objectives Strategic Planning Types of Budgets Operating Budget Cash Budget Budget Appraisal Variance Determination and Analysis Budgetary Control 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 Funds 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 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 Time Value Tables Chapter 13 Review Questions Glossary |
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