Part 2 of a 4 part series this session focuses on revenue recognition. Stay current in the nonprofit world with this review of nonprofit-specific financial statement disclosure requirements and options.
Learning Objectives
• Recognize financial statement presentation requirements for nonprofits
• Learn about unique rules related to nonprofit organizations regarding revenue, investments, endowments and split-interest arrangements
• Learn about different presentation options for the key statements, board-designated reserves, restrictions on net assets, and liquidity disclosures
• Identify areas in which disclosure may not be adequate, particularly given the new audit standard on disclosure
• Learn about some unique reporting or disclosure options, particularly around non-operating activities
Major Topics
• Overview of required financial statements
• Unique considerations in the nonprofit environment
• Presentation options for reserves, restrictions, functional expenses and liquidity.
• Common pitfalls and little-known alternatives
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