Ensure that your not-for-profit accounting is airtight for 2020
Not-for profit organizations have unique characteristics, so they must adhere to a specific set of generally accepted accounting principles (GAAP). Wiley Not-For-Profit GAAP 2020 provides practical guidance on how to identify and apply the relevant standards. This guide is indispensable for professionals responsible for preparing and auditing not-for-profit accounts. You will learn how to interpret the relevant accounting principles and how to apply them, all while minimizing unnecessary effort and eliminating potentially costly errors.
This comprehensive yet concise text thoroughly examines the latest standards for measurement, presentation, and disclosure related to not-for-profits. It covers the Financial Accounting Standards Board (FASB) Accounting Standards Codification, all relevant Accounting Standards Updates, and other guidance that applies to not-for-profit organizations, particularly that of the American Institute of Certified Public Accountants (AICPA). With this unrivalled reference tool, your not-for-profit GAAP questions are answered.
Easily understand the latest not-for-profit GAAP with visual aids, including flowcharts, diagrams, and illustrations Navigate complex requirements and ensure completeness of GAAP disclosures Stay current with all not-for-profit accounting pronouncements, including FASB, AICPA, and more Enjoy practical, user-friendly guidance on applying the relevant accounting standards in your not-for-profit organization
With Wiley Not-For-Profit GAAP 2020, you can be assured you have the most current, comprehensive accounting information that applies to nonprofit organizations. Stay in compliance and ensure timely, accurate reporting with this authoritative volume.
Preface vii About the Authors ix Not-for-Profit Accounting Literature xi Part 1 Overview of Not-for-Profit Organizations 1 Chapter 1 Overview of Not-for-Profit Organizations 3 Chapter 2 Cash versus Accrual-Basis Accounting 11 Part 2 Basic Financial Statements 21 Chapter 3 Statement of Financial Position 23 Chapter 4 Statement of Activities 31 Chapter 5 Statement of Cash Flows 39 Chapter 6 Other Financial Statement Issues 55 Part 3 Specific Not-for-Profit Accounting Topics 73 Chapter 7 Fund Accounting 75 Chapter 8 Net Assets 87 Chapter 9 Contributions, Pledges, Noncash Contributions, and Exchange Transactions 97 Chapter 10 Investments 143 Chapter 11 Affiliated Organizations 163 Chapter 12 Split-Interest Agreements 185 Chapter 13 Fundraising and Joint Costs 195 Chapter 14 Functional Reporting 209 Chapter 15 Collections 215 Part 4 Other Accounting-Related Not-for-Profit Topics 219 Chapter 16 Accounting for Specific Types of Not-for-Profits 221 Chapter 17 Importance of Budgets to a Not-for-Profit 235 Chapter 18 Principal Federal and State Tax Reporting and Regulatory Requirements 253 Part 5 General Accounting Topics Applied to Not-for-Profit Organizations 315 Chapter 19 Current Assets and Current Liabilities 317 Chapter 20 Inventory 325 Chapter 21 Long-Lived Assets, Depreciation, and Impairment 333 Chapter 22 Intangible Assets 345 Chapter 23 Contingencies 355 Chapter 24 Mergers and Acquisitions 371 Chapter 25 Accounting for Pensions and Postretirement Benefits 385 Chapter 26 Long-Term Liabilities 423 Chapter 27 Accounting Changes 441 Chapter 28 Accounting for Leases 447 Chapter 29 Financial Instruments 485 Chapter 30 Capitalization of Interest Costs 497 Appendix: Disclosure Checklist 503 Index 533
Richard F. Larkin, CPA (Bethesda, MD) is technical director of not-for-profit accounting and auditing for Long Group, Chartered, in Bethesda, Maryland. He is a certified public accountant with over 35 years of experience serving not-for-profit organizations. He teaches, speaks, and writes extensively on not-for-profit industry matters.
