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Not-for-Profit Entities - Best Practices in Presentation and Disclosure

Publisher: AICPA
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This resource gives you a straightforward picture of U.S. GAAP compliance by drawing from the audited financial statements of an assortment of not-for-profit entities (NFPs) and providing illustrative financial statement presentation and disclosure examples for the topics most frequently encountered by preparers of financial statements for NFPs.

This resource provides you with the tools you need to work through the process of creating and verifying the format and accuracy of your company’s or clients’ financial statements. It walks you through the most common presentations used by other nonprofits for challenges such as noncash gifts, donor-imposed restrictions, or accounting for contributions.

This new edition provides insight into and examples updated for the new FASB ASU No. 2016-14, Not-for-Profit Entities (Topic 958): Presentation of Financial Statements of Not-for-Profit Entities. It offers an overview of the standard and assists you in determining whether to adopt the new requirements early. Also included is a discussion on financial statements prepared in accordance with a special purpose framework of accounting.

In addition, you’ll find illustrations of the most important, immediate, and challenging disclosures, including:

  • Fair value measurements and use of estimates
  • Investments, derivatives, endowments, and UPMIFA
  • Contributions and revenue recognition, including grants, gifts in kind, interests in trusts, and other receivables
  • Liabilities, including split-interest agreements and pension plans
  • Income taxes and uncertain tax positions for tax-exempt entities
  • Net asset classes and restrictions
  • Measure of operations and joint costs
  • Insight into the new FASB ASU No. 2016-14, Not-for-Profit Entities (Topic 958): Presentation of Financial Statements of Not-for-Profit Entities

Who Will Benefit?
Small- to medium-sized firms and not-for-profit entities

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Not-for-Profit Section Members Receive Additional Savings! 

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Find out more information on the NFP Section.

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