Financial and Accounting Guide for Not-for-Profit Organizations / Edition 7

Financial and Accounting Guide for Not-for-Profit Organizations / Edition 7

by Malvern J. Gross
     
 

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ISBN-10: 0470457066

ISBN-13: 9780470457061

Pub. Date: 05/03/2010

Publisher: Wiley

This book is filled with authoritative advice on the financial reporting, accounting, and control situations unique to not-for-profit organizations. It contains complete guidance on tax and compliance reporting requirements, illustrated explanations of various types of acceptable financial statements, a how-to section on setting up and keeping the books with

Overview

This book is filled with authoritative advice on the financial reporting, accounting, and control situations unique to not-for-profit organizations. It contains complete guidance on tax and compliance reporting requirements, illustrated explanations of various types of acceptable financial statements, a how-to section on setting up and keeping the books with step-by-step procedures and forms, and commentary on computers and accounting software. Completely revised and updated, the Seventh Edition includes the latest updates to accounting activities and requirements as they relate to not-for-profit organizations.

Product Details

ISBN-13:
9780470457061
Publisher:
Wiley
Publication date:
05/03/2010
Edition description:
7th Edition 2010 Cumulative Supplement
Pages:
272
Product dimensions:
6.00(w) x 8.90(h) x 0.80(d)

Table of Contents

Note to the Reader: Chapters or sections not in the main bound volume, Financial and Accounting Guide for Not-for-Profit Organizations, Seventh Edition (978-0471-72445-2) are indicated by "(New)" after the title. Material from the main bound volume that has been updated is indicated by "(Revised)" after the title. Material new to or modified in this supplement is indicated by an asterisk (*) in the left margin in the contents and throughout the supplement.

Preface.

Chapter One: Responsibilities for Fiscal Management.

§ 1.8 Conclusion.

PART ONE: KEY FINANCIAL CONCEPTS.

Chapter Five: Fixed Assets and Depreciation.

§ 5.1 General Principles—Working Definitions.

§ 5.7 Impairment or Disposal of Long-Lived Assets.

Chapter Six: Investment Income, Gains and Losses, and Endowment Funds.

§ 6.1 Accounting Principles.

Chapter Seven: Affiliated Organizations, Pass-Through Transactions, and Mergers.

* § 7.2 Definition of the Reporting Entity.

* § 7.3 Mergers of Not-for-Profit Organizations.

Chapter Eight: Contributions, Pledges, and Noncash Contributions.

§ 8.2 Gifts-in-Kind.

* § 8.3 Support Not Currently Expendable.

Chapter Nine: Accounting Issues Relating to Fundraising.

§ 9.1 Accounting for Gifts.

PART TWO: FINANCIAL STATEMENT PRESENTATION.

Chapter Eleven: Accrual-Basis Financial Statements.

§ 11.1 Simple Accrual-Basis Statements.

§ 11.2 Accrual-Basis Statements—Fundraising Organization.

§ 11.3 Accrual-Basis Statements—International Organization.

Chapter Twelve: Multiclass Financial Statements.

§ 12.2 Preparation of Statement of Cash Flows.

§ 12.3 "Class" Financial Statements Explained.

Appendix 12-A: Financial Statements of Not-for-Profit Organizations—Review Points.

PART THREE: ACCOUNTING AND REPORTING GUIDELINES.

Chapter Thirteen: Voluntary Health and Welfare Organizations.

§ 13.2 Accounting for Contributions.

§ 13.5 Accounting for Assets.

§ 13.6 Net Assets.

§ 13.7 Financial Statements.

Chapter Fourteen: Colleges and Universities.

§ 14.1 Authoritative Pronouncements.

§ 14.2 The Principal Financial Statements.

§ 14.3 Accounting Principles.

§ 14.4 New Accounting Rules (New).

Chapter Fifteen: The External Financial Statement Reporting Model for Public Colleges and Universities and Other Not-for-Profit Organizations Reporting under the GASB.

§ 15.6 Basic Financial Statements.

* § 15.7 Footnote Disclosures.

§ 15.8 Management’s Discussion and Analysis.

§ 15.8A Required Supplemental Information Other thanMD&A (New).

§ 15.8B Statistical Section (New).

Chapter Sixteen: Health Care Providers.

§ 16.3 Financial Statements.

§ 16.4 Accounting Principles.

Chapter Seventeen: Accounting Standards for Other Not-for-Profit Organizations.

§ 17.1 Accounting Principles.

Chapter Eighteen: Special Accounting Issues for Specific Organizations.

§ 18.7 Private Foundations.

Chapter Nineteen: The Financial Accounting Standards Board and Future Trends in Not-for-Profit Accounting.

§ 19.2 Trends in Not-for-Profit Accounting.

§ 19.3 New FASB Statements of Financial Accounting Standards that Affect Not-for-Profit Organizations.

* § 19.4 Other FASB Pronouncements and Projects.

PART FOUR: CONTROLLING THE NOT-FOR-PROFIT ORGANIZATION.

Chapter Twenty-Four: Effective Internal Accounting Control for Not-for-Profit Organizations.

* § 24.1 Introduction to Internal Accounting Control.

§ 24.3 Basic Internal Accounting Control System.

§ 24.4 Specific Nonprofit Internal Accounting Controls.

Chapter Twenty-Five: Independent Audits.

§ 25.2 Benefits of an Independent Audit.

§ 25.5 Audit Committees.

Chapter Twenty-Six: Investments.

* § 26.1 Valuing Investments.

§ 26.5 Professional Investment Advice.

PART FIVE: PRINCIPAL FEDERAL TAX AND COMPLIANCE REQUIREMENTS.

Chapter Twenty-Seven: E-Business for Not-for-Profit Organizations: How Can Not-for-Profits Manage the Risks to Maximize E-Business Opportunities?

§ 27.5 Where Are We Today?

§ 27.8 How Are Academic Institutions Using E-Business?

Appendix 27-A: What E-Business Models Exist?

Chapter Twenty-Eight: Principal Tax Requirements.

§ 28.2 Charitable Organizations.

§ 28.3 Tax Status of Charitable Organizations: Public Charity or Private Foundation.

§ 28.4 Other Concerns for Charities.

§ 28.5 Private Foundations.

§ 28.8 Registration and Reporting.

* § 28.9 Federal Information and Tax Return Filing Requirements.

§ 28.10 State Information and Tax Reporting Issues.

§ 28.11 Donor-Advised Funds (New).

* § 28.12 New Restrictions on Supporting Organizations (New).

Chapter Twenty-Nine: Audits of Federally Funded Programs.

* § 29.1 Basic Requirements.

§ 29.3 Responsibilities of the Receiving Organization.

* § 29.4 What to Expect from the Audit.

*Appendix A: Accounting and Disclosure Guide for Not-for-Profit Organizations (Revised).

*Appendix D: Summary of Emerging Accounting, Tax, and Regulatory Issues for Not-for-Profit Organizations in 2009 (New).

*Appendix E: Perspectives in Higher Education 2009 (New).

Index.

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