Preparing Not-for-Profit Financial Statements

Overview

In order to prepare accurate and effective not-for-profit financial statements, professionals must have a strong working knowledge of the reporting requirements. Now is the time to obtain that knowledge! This course explains the requirements, illustrates how the requirements manifest in the financial statements, and clarifies options available to not-for-profits in applying the requirements. The course covers key accounting areas that affect not-for-profits, including revenue recognition, contributions, and leases. The course materials utilize a highly illustrative and innovative format, including over 30 focused exercises to provide an enhanced working knowledge of not-for-profit accounting and reporting.

Objectives

Obtain a working knowledge of the not-for-profit financial reporting requirements

Skillfully prepare a not-for-profit's financial statements with superior knowledge of accounting and reporting requirements

Effectively apply today's core not-for-profit accounting requirements

Highlights

Key requirements, options, and disclosures related to each of the basic financial statements

The reporting of functional and natural expense information

Requirements related to providing liquidity and availability of financial assets information

Core not-for-profit requirements related to conditional and unconditional contributions, promises to give, contributed services, net assets, special events, the classification of expenses, and more

The impact of FASB ASC 842, Leases, on not-for-profits

Designed For

Not-for-profit industry professionals and auditors

Prerequisites

Some introductory background in not-for-profit accounting and reporting

Preparation

None

Notice

By registering for this program and, accordingly, receiving the eMaterials, you’re acknowledging that you understand both the copyright restrictions on your eMaterials and the CTCPA cancellation policy. https://www.ctcpas.org/events/cpe-policies

Fees

Credits

Level

Code

Vendor

Fields of Study

Leader(s):

Kerry Roberts, Surgent McCoy CPE, LLC

Leader Bios

Kerry Roberts, Surgent McCoy CPE, LLC

Kerry E. Roberts, CPA, is a frequent public speaker and presenter. In addition to presenting for Surgent, Kerry chairs the Tennessee Senate Committee for Government Operations, which oversees 260 governmental agencies in the state of Tennessee.

Prior to working with the Tennessee General Assembly, Kerry was a business owner and CEO for 25 years. His background includes being president and chairman of a national business association, partner in a CPA firm, audit staff for a “Big 8” accounting firm, and adjunct accounting faculty for Lipscomb University.

Kerry is a 1983 graduate of Lipscomb University (accounting major). Married since 1987, Kerry and his wife are the parents of three kids and live in Springfield, Tennessee. His hobbies include cycling, a vintage motorcycle, two antique Triumph convertibles, and tending to a 155-year-old home.

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