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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 : |
Not for Profit
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| 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:
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 Overview Financial Reporting Model Illustrations Higher Education Fund Structure Chapter 2 Review Questions Chapter 3: Voluntary Health and Welfare Organizations Overview Financial Reporting Model Contributions Received Chapter 3 Review Questions Chapter 4: Health Care Entities Overview 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 Liquidity Solvency Analysis of the Statement of Activities Chapter 5 Review Questions Appendix Glossary |
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