Analytical Procedures for Nonprofits

Overview

Strong analytical procedures are critical for evaluating the fair presentation of financial statements. In addition, Financial statements are only as good as the information and trends that they produce for operational, strategic, or compliance purposes. This course will provide insights into how to determine the strength and efficiency of nonprofits in achieving objectives and knowledge to improve the analysis of the fair presentation of a nonprofit's financial statements.  

Highlights

• How to leverage preliminary and substantive analytic procedures to improve the effectiveness and efficiency of financial statement audits
• The required elements of a substantive analytic procedures to address detection risk
• Tips and traps of applying an analytic approach to satisfy audit objectives
• Explaining the usefulness of analyzing diverse trends and ratios in a nonprofit environment to meet the needs of various financial statement users
• Common ratios and trends to assess liquidity, operating efficiency, leverage, and more

Prerequisites

None

Designed For

Anyone responsible for analyzing or interpreting nonprofit financial statements

Objectives

• Explain how properly designed and performed analytical procedures contribute to reducing audit risk
• Describe the required elements of an analytical test that must be documented to satisfy professional standards
• Describe the most common financial statement analytics used to interpret the financial results of a nonprofit
• Common ratios and trends to assess liquidity, operating efficiency, leverage, and more  

Preparation

Familiarity with the nonprofit industry

Notice

This course is offered by a 3rd party vendor and will not be accessible in the My CPE Tracker section of the ISCPA website. Course access information will be emailed directly to you by Accounting Continuing Professional Education Network (ACPEN).