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CPE Self-Study
Statement of Cash Flows: Not-for-Profit Financial Reporting
NASBA FIELD OF STUDY
Accounting
LEVEL
Intermediate
CPE CREDITS
Online: 1.5

Not-for-Profit Section Members Save an Additional 20%

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Find out more information on the NFP Section.

CPE On-Demand
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Product details

Who Will Benefit?

  • CPAs, financial professionals and NFP board members involved in financial reporting for NFPs or reviewing NFP financial statements.

Key Topics

  • GAAP industry-specific guidance
  • Industry best practices
  • Direct and indirect method
  • Classification (operating, investment, and financing activities)
  • Reconciliation of change in net assets to cash balances
  • Effect of donor restrictions on cash flow reporting

Learning Objectives:

  • Determine how to prepare, in accordance with GAAP, a statement of cash flows (SCF).
  • Differentiate between operating, financing, and investing activities.
  • Determine the effect of a certain transaction or significant event on the reporting entity's SCF.
  • Differentiate between direct method and indirect method cash flow statement and identify steps for successful completion of the statements under both methods.

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

A statement of cash flows is necessary to comply with GAAP, which is required of for-profit and not-for-profit (NFP) businesses alike. However, NFPs are required to comply with unique industry-specific guidance that applies only to them. For example, when an NFP receives cash with a donor-imposed restriction or holds cash for the purposes of a long-term endowment, debt-service reserve, quasi endowment, or future acquisition of property, those activities will require special reporting consideration. This CPE course offers you detail-rich examples and case studies. Learn the nuances of NFP financial reporting and get the information you need to successfully prepare a statement of cash flows. You will have an opportunity to download a sample NFP statement of cash flows, which is included in your course materials.

Note: As of August 1, 2018, course content has been updated to reflect implementation of FASB Accounting Standards Updates (ASUs) effective for most not-for-profit entities for their next financial reporting period, including those related to financial statement presentation (ASU 2016-14) and revenue recognition (ASU 2014-09 and ASU 2018-08).

Ratings and reviews
Author(s)

Andrew Prather, CPA

Andrew Prather is an audit shareholder at Clark Nuber P.S. based in the Seattle metro area. He is a leader in the firm's Not-for-Profit Services Group and provides a wide range of not-for-profit organizations with audit and consulting services. Andrew serves as a member of the FASB's Not-for-Profit Advisory Committee and chairs the planning committee for the AICPA's Not-for-Profit Industry Conference. He previously was a member of the AICPA's Not-for-Profit Expert Panel and served on the AICPA's Not-for-Profit Entities Audit & Accounting Guide Revision Task Force and participated in the 2013 overhaul of the AICPA's Not-for-Profit Entities Audit & Accounting Guide. Andrew has served as the chair of the Washington Society of CPA's (WSCPA) Not-for-Profit Committee and co-chair of the WSCPA Not-for-Profit Conference. He is a frequent speaker at conferences, seminars, and webcasts for the AICPA, state CPA societies, and industry groups. Andrew also serves as his firm's Quality Control Director overseeing the firm's audit quality assurance program and serving as a technical resource to the firm's professional staff.

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.

NFP Certificates
Price:
$69.00
Member Quantity:
Nonmember Quantity:
Quantity:
Estimated total:
$69.00
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CREDIT INFO
CPE credits
Online
: 1.5
NASBA Field of Study
Accounting
Level
Intermediate
Prerequisites
Experience working in or with the not-for profit industry.
ADVANCE PREPARATION
None
Yellow Book Hours
Online - 1.5
Delivery Method
QAS Self-Study
Course acronym
NFP2-AFR3
GROUP PRICING
Contact a representative for group pricing.
Telephone: 800.634.6780 (Option 1)
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