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CPE Self-Study

Statement of Activities: Not-for-Profit Financial Reporting

  • $59.00-$69.00
    Statement of Activities: Not-for-Profit Financial Reporting Availability : Online Access Product #: 165422
    AICPA Member: $59.00
    Non-Member: $69.00
  • Contact Sales
    Contact a representative for group pricing. 800.634.6780 (Option 1) | Contact Us Product #: GT-NFP2-AFR2

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 video-based CPE course is included in Not-for-Profit Certificate II. It can be purchased individually or as a part of the Not-for-Profit Certificate II - Financial Reporting track.

How does your not-for-profit (NFP) evaluate financial performance? Of all the financial statements, the statement of activities is among the most useful to an NFP's managers and constituents. The statement of activities reports revenues, gains, expenses, and losses for the period. It is a useful tool in assessing an NFP's service efforts and its ability to continue to provide services to sustainably carry out its mission.

There are numerous ways in which an NFP's statement of activities differs from the income statement of a for-profit business. For example, to properly present revenues and gains, one will need to understand how donor-imposed stipulations affect classification.

This CPE course offers you detail-rich interpretations and case studies that will help you learn to prepare an NFP's statement of activities.

Included as a course resource is a sample statement of activities.

Topics Discussed

  • Comparative information
  • Contributions and Donor-imposed restrictions
  • Distinguishing revenues from gains
  • Expense reporting by function
  • Net asset classification
  • Presentation options
  • Industry best practices

Learning Objectives

  • Determine how to prepare, in accordance with GAAP, a statement of activities
  • Identify the most appropriate financial statement format, considering the complexity of the entity
  • Determine the effect of a particular transaction or significant event on the entity's statement activities
  • Identify the effect of donor-imposed restrictions on the reporting of revenues in the statement of activities

Prerequisite: Knowledge of not-for-profit sector and basic financial statements

Advance Preparation: None

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.

System Requirements

About the Authors

Andrew Prather, CPA

Clark Nuber PS

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.