Not-for-Profit Entities - Audit and Accounting Guide

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This AICPA Accounting and Auditing Guide is a must-have for the resource libraries of accounting and auditing professionals who work with not-for-profit organizations. This essential reference book assists you in the unique aspects of accounting and financial statement preparation and auditing for not-for-profit entities.

If you've ever felt like you needed someone by your side to help walk you through the accounting standards, this guide is a great go-to. Created with common errors and questions in mind, you'll benefit from not-for-profit industry-specific guidance on the issues you're likely to encounter this year.

The 2018 edition includes guidance on financial reporting changes, reporting donated services between affiliated NFPs, split-interest agreements, contributions and grants, functional expenses and joint costs, and much more.

Are you ready to implement FASB ASU No. 2016-14?

This new edition provides a comprehensive discussion of FASB ASU No. 2016-14, Not-for-Profit Entities (Topic 958): Presentation of Financial Statements of Not-for-Profit Entities. The discussion includes highlights of the changes that will assist financial statement preparers with implementing the standard. The guide offers dual guidance throughout, providing readers with the "before-and-after" context to enhance their understanding of the changes, as well as two all-inclusive appendices.

Key Benefits

  • Understand and implement changes related to FASB ASU 2016-14.
  • 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 not-for-profits, 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


The 2018 edition provides updates related to the following:

  • FASB ASU No. 2016-14, Not-for-Profit Entities (Topic 958): Presentation of Financial Statements of Not-for-Profit Entities.
  • FASB ASC No. 2014-09, Revenue from Contracts with Customers (Topic 606).
  • SAS No. 133, Auditor Involvement with Exempt Offering Documents
  • FASB ASU No. 2014-15, Presentation of Financial Statements–Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern
  • SAS No. 132, The Auditor's Consideration of an Entity's Ability to Continue as a Going Concern
  • FASB ASU No. 2015-07, Fair Value Measurement (Topic 820): Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent) (a consensus of the FASB Emerging Issues Task Force).
  • FASB ASU No. 2017-02, Not-for-Profit Entities–Consolidation (Subtopic 958-810): Clarifying When a Not-for-Profit Entity That Is a General Partner or a Limited Partner Should Consolidate a For-Profit Limited Partnership or Similar Entity

Who Will Benefit

Preparers and auditors of not-for-profit financial statements


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.


This product is also available in an online subscription format that includes the corresponding Not-for-Profit Entities Industry Developments-Audit Risk Alert, content updates and unlimited online access for 1 year. Select the Online Subscription option and save!

Not-for-Profit Section Members Receive Additional Savings!

When you log into this website with your AICPA member user account, the section/credential discount will be automatically applied during checkout. Should you have any questions or encounter any issues, please contact the AICPA Service Center at 888-777-7077 or service@aicpa.org.

Find out more information on the NFP Section

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Table of Contents

System Requirements

About the Publisher

American Institute of CPAs

The American Institute of CPAs (AICPA) is the world’s largest member association representing the CPA profession, with more than 418,000 members in 143 countries, and a history of serving the public interest since 1887. AICPA members represent many areas of practice, including business and industry, public practice, government, education and consulting.

The AICPA sets ethical standards for the profession and U.S. auditing standards for private companies, nonprofit organizations, federal, state and local governments. It develops and grades the Uniform CPA Examination, and offers specialized credentials for qualified professionals who concentrate on personal financial planning; forensic accounting; business valuation; and information management and technology assurance. With The Chartered Institute of Management Accountants (CIMA), it offers the Chartered Global Management Accountant (CGMA) designation, which sets the global benchmark for quality and recognition in management accounting.

The AICPA and CIMA also make up the Association of International Certified Professional Accountants (the Association), which represents public and management accounting globally, advocating on behalf the public interest and advancing the quality, competency and employability of CPAs, CGMAs and other accounting and finance professionals worldwide.

The AICPA maintains offices in New York, Washington, DC, Durham, NC, and Ewing, NJ.