Part 1 of a 2-part series is an overview of GAAP requirements for nonprofit organizations and will help you become proficient in nonprofit financial reporting. This webcast focuses on presentation and disclosure unique to nonprofit organizations. Be sure to register for the next in the series: Nonprofit A&A Series Part 2: Revenue Recognition.
Learning Objectives
• 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
• Recognize financial statement presentation requirements for nonprofits
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