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CPE Self-Study

Net Assets: Not-for-Profit Accounting & Financial Reporting

  • $29.00-$39.00
    Net Assets: Not-for-Profit Accounting & Financial Reporting Availability : Online Access Product #: 165123
    AICPA Member: $29.00
    Non-Member: $39.00
  • Contact Sales
    Contact a representative for group pricing. 800.634.6780 (Option 1) | Contact Us Product #: GT-NFP-AFR3

Please Read: Not-for-Profit certificate product changes are currently underway in order to reflect new FASB ASU 2016-14 and the FASB standards. On July 31, 2018, the few courses impacted will be updated and replaced. If you do not expect to complete the entire certificate program by July 31, you may wish to defer completion of the few impacted courses until after August 1, 2018. Learn More.

This CPE course is included in the 40-hour Not-for-Profit Certificate I Program. It can also be purchased individually or as a part of the Not-for-Profit Accounting and Financial Reporting track.

Not-for-profits (NFPs) are unique in that they often receive substantial amounts of contributions, many of which contain donor-imposed restrictions as to their use. The existence or absence of donors’ restrictions forms the basis for the classification of an NFP’s net assets.

In this CPE course, you will learn the basics of net asset classification. Topics covered include donor-imposed restrictions, identifying when restrictions may be implied, financial statement presentation of net assets and required footnote disclosures. The course culminates in a virtual case study in which you will have an opportunity to apply the technical concepts you have learned to real-world scenarios.

Topics Discussed:

  • NFP reporting standards related to net assets
  • Accounting for donor-imposed restrictions
  • Reclassifications of net assets
  • Financial statement presentation and disclosure of net assets

Learning Objectives:

When you complete this course, you will be able to:

  • Differentiate between the three classifications of net assets: permanently restricted, temporarily restricted, and unrestricted
  • Recall how donor-imposed restrictions affect the classification of net assets
  • Identify the appropriate financial statement presentation and required footnote disclosures related to net assets

Prerequisite: None

Advanced Preparation: None

Who Will Benefit?

  • CPAs who are new to NFPs, entry-level staff in public accounting firms, seasoned professionals with limited exposure to NFPs, and NFP board members

About the Authors

Karen Craig

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.