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Not-For-Profit Accounting: Reporting and Analysis - v13 (Course Id 1520)

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Author : Jae K. Shim, Ph.D., CPA
Course Length : Pages: 62 ||| Review Questions: 30 ||| Final Exam Questions: 25
CPE Credits : 5.0
IRS Credits : 0
Price : $44.95
Passing Score : 70%
Course Type: NASBA QAS - Text - Technical - NASBA Registry
Primary Subject-Field Of Study:

Accounting - Accounting for Course Id 1520

Description :

The Financial Accounting Standards Board (FASB) provides guidance for communication of a not-for-profit organization’s (NFPO) financial performance and condition to stakeholders (e.g. donors, grantors, creditors). To assist management and auditors in preparing financial statements and performing engagements, this course provides an overview of the accounting and reporting framework applicable to NFPOs that apply FASB standards. It also discusses accounting by specific nonprofits - colleges and universities, voluntary health and welfare organizations, and health care entities. Finally, the course describes financial analysis and ratios that can be useful to analyze the financial fitness of NFPOs.

Usage Rank : 0
Release : 2023
Version : 1.0
Prerequisites : None.
Experience Level : Overview
Additional Contents : Complete, no additional material needed.
Additional Links :
Advance Preparation : None.
Delivery Method : QAS Self Study
Intended Participants : Anyone needing Continuing Professional Education (CPE).
Revision Date : 24-Aug-2023
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 - 1520

Keywords : Accounting, Not-For-Profit, Accounting, Reporting, Analysis, v13, cpe, cpa, online course
Learning Objectives :

Course Learning Objectives

After completing this section, you should be able to:
    1. Identify the objectives of financial reporting by not-for-profit organizations (NFPOs)
    2. Identify financial statement presentation and disclosure for NFPOs
    3. Recognize how net assets are affected by different types of transactions
    4. Recognize the method of grouping expenses according to the purpose for which costs are incurred
    5. Distinguish between a contribution and an exchange transaction
    6. Distinguishing between conditional and unconditional contributions
    7. Recognize net asset presentation requirements of higher education
    8. Identify major functional expense classes of voluntary health and welfare organizations
    9. Recognize accounting rules of charity care and malpractice claims for private not-for-profit hospitals
    10. Recognize different examples of ratio analysis
Course Contents :

Chapter 1:   Nonprofit Accounting and Auditing

Financial Reporting Framework

Applicability of FASB Guidance

Purpose of Financial Reporting

Financial Reporting Standards

Accounting for Contributions

Contribution vs. Exchange Transaction

Conditional vs. Unconditional Contributions

Underwater Endowment Funds

Expiration of Donor-Imposed Restrictions

Presentation and Disclosure

Statement of Financial Position

Statement of Activities

Statement of Cash Flows

Other Presentation Matters

Disclosure Requirements

Fund Accounting

Illustrative Financial Statements

Audit Considerations

To Audit or Not to Audit

Types of Audit Opinions

Chapter 1 Review Questions

Chapter 2:    Colleges and Universities


Financial Reporting Model


Higher Education Fund Structure

Chapter 2 Review Questions

Chapter 3:    Voluntary Health and Welfare Organizations


Financial Reporting Model

Contributions Received

Chapter 3 Review Questions

Chapter 4:    Health Care Entities


Financial Reporting Model

Revenue Recognition

Medical Malpractice

Chapter 4 Review Questions

Chapter 5:    Financial Analysis and Performance Measurement

Financial Statement Analysis

Significance of Financial Analysis

Trend Analysis

Ratio Analysis

Performance Analysis

Importance of Measuring Performance

Key Performance Indicators

Warning Signs

Case Study



Analysis of the Statement of Activities

Chapter 5 Review Questions



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