Not-for-Profit Entities - Audit and Accounting Guide
The 2016 edition provides assistance in the unique preparation, auditing, accounting and reporting of financial statements for not-for-profit entities.
This new edition includes guidance on reporting donated services between affiliated NFPs, split-interest agreements, contributions and grants, functional expenses and joint costs, and much more.Key Benefits:
- Properly report complex revenue and expense transactions that have a material effect on financial reporting
- Gain an understanding of the accounting issues that are unique to NFPs, such as donor restrictions on contributions
- Understand the unique audit areas in NFPs and how to address the risk of material misstatement
- Properly account for the relationships between NFPs and other entities
- Understand the disclosure requirements related to reporting transactions that are common to NFPs
- FASB ASU No. 2013-06, Not-for-Profit Entities (Topic 958): Services Received from Personnel of an Affiliate (a consensus of the FASB Emerging Issues Task Force)
- FASB ASU No. 2014-04, Receivables—Troubled Debt Restructurings by Creditors (Subtopic 310-40): Reclassification of Residential Real Estate Collateralized Mortgage Loans upon Foreclosure (a consensus of the FASB Emerging Issues Task Force)
- FASB ASU No. 2014-08, Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity.
- FASB ASU No. 2015-10, Technical Corrections and Improvements
Who Will Benefit:
- Audit and accounting firms with nonprofit engagements
- Financial managers at nonprofit organizations
Bundle and Save
Get even more value with the Not-for-Profit Entities: Audit & Accounting Set. This convenient bundle gives you access to the full range of Not-for-Profit content offered by the AICPA, all in one convenient online subscription. This online bundle includes how-to advice and authoritative guidance, valuable discussion, best practices, and much more. Follow the link above for more details.
Not-for-Profit Section Members Receive Additional Savings!
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Find out more information on the NFP Section.