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Course Details

Nonprofit Accounting - A Practitioners Guide (Course Id 638)

Updated / QAS / Registry   Add to Cart 
Author : Steven Bragg, CPA
Status : Production
CPE Credits : 16.0
IRS Credits : 0
Price : $127.95
Passing Score : 70%
Primary Subject-Field Of Study:

Accounting - Accounting and Auditing for Course Id 638

Description :

This course provides guidance in how to create and operate a nonprofit accounting system, close the books, and produce financial statements - all while operating in accordance with the unique nonprofit accounting standards. Coverage of accounting standards includes revenue recognition, joint costs, split-interest agreements, and mergers and acquisitions. The course also describes detailed systems of control, budgeting, and ratio analysis to maintain a proper level of control over funds.

Usage Rank : 0
Release : 2017
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 : 23-Jun-2017
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 - 638

Keywords : Accounting, Nonprofit, Accounting, Practitioners, Guide, cpe, cpa, online course
Learning Objectives :

Course Learning Objectives

  • Cite the criteria used to define a nonprofit organization.
  • Note the essential building blocks of an accounting system.
  • Identify the types of nonprofit financial statements and the comparable for-profit financial statements.
  • Note the instances in which revenue and gains can be recognized by a nonprofit.
  • Cite the methods used to assign costs to a grant-funded program.
  • State the applicable rules related to the recognition of investment assets.
  • Identify the costing characteristics of the various cost layering methodologies.
  • Identify the options available for recognizing a collection.
  • Recall how the 12-month lease exception works.
  • Note the different types of lease payments.
  • Recognize the components of net periodic pension cost, and the accounting for a defined contribution plan.
  • Identify the types of joint costs, and the tests used to determine whether fundraising costs can be allocated.
  • Define the situations in which accounting principles can be changed, and when retrospective application is allowed.
  • State the concept of the principal market and the basis upon which fair value is determined.
  • Cite the accounting for a contribution receivable, as well as the steps involved in a petty cash reconciliation.
  • Identify the accounting associated with split-interest agreements, as well as the nature of lead and remainder interests.
  • Note the circumstances under which the reporting consolidation of two or more entities is required or allowed.
  • Recognize the situations in which the carryover and acquisition methods are used, and whether goodwill or an inherent contribution can be recorded for an acquisition transaction.
  • State the IRS forms used for various nonprofit tax reporting activities, and the circumstances under which they must be filed.
  • Cite the steps involved in closing the books at the end of a reporting period.
  • Identify the line items used in nonprofit budgets and cash forecasts.
  • Note the considerations to be reviewed when creating controls, as well as the controls employed in the cash, fixed asset, payables, and other accounting areas.
  • Recognize the considerations involved in setting policies for collections, asset dispositions, and employee labor.
  • Cite the types of analysis that can be employed to yield insights into the financial condition and fundraising effectiveness of a nonprofit.

Chapter 1
Overview of the Nonprofit Entity

Cite the criteria used to define a nonprofit organization.

Chapter 2
Basic Nonprofit Accounting Concepts

Note the essential building blocks of an accounting system.

Chapter 3
Nonprofit Financial Statements

Identify the types of nonprofit financial statements and the comparable for-profit financial statements.

Chapter 4
Revenue Accounting

Note the instances in which revenue and gains can be recognized by a nonprofit.

Chapter 5
Government Grants

Cite the methods used to assign costs to a grant-funded program.

Chapter 6
Investment Accounting

State the applicable rules related to the recognition of investment assets.

Chapter 7
Inventory Accounting

Identify the costing characteristics of the various cost layering methodologies.

Chapter 8
Fixed Asset Accounting

Identify the options available for recognizing a collection.

Chapter 9
Lease Accounting

  • Recall how the 12-month lease exception works.
  • Note the different types of lease payments.

    Chapter 10
    Pension Plan Accounting

    Recognize the components of net periodic pension cost, and the accounting for a defined contribution plan.

    Chapter 11
    Joint Costs and Allocations

    Identify the types of joint costs, and the tests used to determine whether fundraising costs can be allocated.

    Chapter 12
    Accounting Changes and Error Corrections

    Define the situations in which accounting principles can be changed, and when retrospective application is allowed.

    Chapter 13
    Fair Value

    State the concept of the principal market and the basis upon which fair value is determined.

    Chapter 14
    Other Accounting Topics

    Cite the accounting for a contribution receivable, as well as the steps involved in a petty cash reconciliation.

    Chapter 15
    Split-Interest Agreements

    Identify the accounting associated with split-interest agreements, as well as the nature of lead and remainder interests.

    Chapter 16
    Affiliated Organizations

    Note the circumstances under which the reporting consolidation of two or more entities is required or allowed.

    Chapter 17
    Mergers and Acquisitions

    Recognize the situations in which the carryover and acquisition methods are used, and whether goodwill or an inherent contribution can be recorded for an acquisition transaction.

    Chapter 18
    Nonprofit Tax Reporting

    State the IRS forms used for various nonprofit tax reporting activities, and the circumstances under which they must be filed.

    Chapter 19
    Closing the Books

    Cite the steps involved in closing the books at the end of a reporting period.

    Chapter 20
    Nonprofit Budgeting

    Identify the line items used in nonprofit budgets and cash forecasts.

    Chapter 21
    Accounting Controls

    Note the considerations to be reviewed when creating controls, as well as the controls employed in the cash, fixed asset, payables, and other accounting areas.

    Chapter 22
    Nonprofit Policies

    Recognize the considerations involved in setting policies for collections, asset dispositions, and employee labor.

    Chapter 23
    Analysis of a Nonprofit's Financial Health

    Cite the types of analysis that can be employed to yield insights into the financial condition and fundraising effectiveness of a nonprofit.
  • Course Contents :

    To view Table of Contents, please Click here.

    Non Profit CPE Home: https://www.cpethink.com/non-profit-cpe
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