Not-for-Profit Organizations: Accounting Principles and Risk Management 2024

Overview

Not-for-profit organizations are one of the fastest-growing sectors of our economy, making it increasingly important that auditors, attorneys, CFOs and other advisers understand the unique accounting principles and challenges that apply. Examine the core principles and practices of not-for-profit accounting; review the general characteristics and operational environment of not-for-profit organizations; and discuss how to apply generally accepted standards and principles. Also, learn risk management best practices and common accounting errors.

Highlights

• Not-for-profit GAAP
• Expense allocation methodologies
• Risk management
• Accounting errors

Prerequisites

Understanding of intermediate accounting theory and practice. Experience with and knowledge about the financial operations of a nonprofit organization.

Designed For

CPAs, CFOs, attorneys, bankers, board members and consultants.

Objectives

• Identify accounting and reporting differences between for-profit and not-for-profit organizations
• Determine fundamental accounting rules of not-for-profits
• Recognize allocation methodologies and how they impact financial statements and external oversight
• Identify hidden risk areas for not-for-profits to enhance audit procedures

Preparation

None

Notice

This course is offered by a 3rd party vendor. Login instructions will not be accessible in the My CPE Tracker section of the ISCPA website. Login instructions will be emailed directly to you by California Education Foundation (CalCPA).