The Simplified Guide to Not-for-Profit Accounting, Formation & Reporting / Edition 1

The Simplified Guide to Not-for-Profit Accounting, Formation & Reporting / Edition 1

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by Laurence Scot
     
 

Praise for
The Simplified Guide to Not-for-Profit Accounting, Formation & Reporting

"There are numerous publications about the NFP industry, but not many that give a good fundamental understanding of the accounting principles. The material in this book will be of great help to new employees as well as a good commonsense reference for those with

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Overview

Praise for
The Simplified Guide to Not-for-Profit Accounting, Formation & Reporting

"There are numerous publications about the NFP industry, but not many that give a good fundamental understanding of the accounting principles. The material in this book will be of great help to new employees as well as a good commonsense reference for those with experience. It clearly explains some of the more difficult accounting concepts particular to Not-for-Profits." -Richard Tierney, Director of Finance, North Shore Animal League America

"This book is a concise, complete review of the fundamentals of Not-for-Profit accounting and governance. Every topic is covered with a directness and honesty that builds confidence in those who need to learn how to do their jobs well. This is just what we need in today's choppy Not-for-Profit waters." -Rev. Luke L. Travers, OSB, Business Officer, Delbarton School/St. Mary's Abbey

"Larry Scot's book is a clearly written step-by-step guide on how to set up and maintain accounting records. Every Not-for-Profit financial executive should have this book on their shelf for reference. I highly recommend this book." -Gail Rizick, CPA/ABV/CFF, CVA, Cr.FA, ASA

Your A-to-Z guide to Not-For-Profit formation, accounting, and reporting

If you need basic, easy-to-understand information on how Not-for-Profit organizations are formed, how they're structured, and the unique accounting and reporting issues they face, The Simplified Guide to Not-for-Profit Accounting, Formation, and Reporting is the only resource you need.

This comprehensive guide provides you with expert advice on how to maintain the financial "books" of a typical Not-for-Profit entity and what is needed to comply with most reporting requirements. Plus, it lays out what a Not-for-Profit organization is, the rules it must follow, the role and responsibilities of its board of directors, and the various regulatory agencies that Not-for-Profits must report to.

Straightforward and hands-on, this effective reference will help you navigate through all of the key accounting and reporting issues unique to the Not-for-Profit world, including:

  • Step-by-step instructions for forming a Not-for-Profit
  • Not-for-Profit internal controls and financial statements
  • Developing a "chart of accounts" and operating budgets
  • Not-for-Profit accounting rules and GAAP
  • Everything you need to know about the new Form 990
  • Accounting for unrestricted and restricted contributions, grants, and other revenue
  • Plus much more!

Whether you are performing accounting functions, responsible for financial management, or simply want to understand Not-for-Profit accounting, operations, and reporting, The Simplified Guide to Not-for-Profit Accounting, Formation, and Reporting is a great and handy book to have around for easy reference.

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Product Details

ISBN-13:
9780470575444
Publisher:
Wiley
Publication date:
06/01/2010
Pages:
288
Sales rank:
229,466
Product dimensions:
7.00(w) x 9.90(h) x 0.80(d)

Table of Contents

Preface

Chapter 1 Introduction 1

Chapter 2 NFP Organization Formation 7

Chapter 3 NFP Organizational Structure 29

Chapter 4 Introduction to NFP Accounting and Reporting 41

Chapter 5 NFP Accounting System and Financial Statements 63

Chapter 6 Assets-Concepts and Data Flow 87

Chapter 7 Liabilities and Net Assets-Concepts and Data Flow 123

Chapter 8 Accounting For Support and Revenue 139

Chapter 9 Accounting For Personnel Costs, and Other Expenses 155

Chapter 10 Investments, Pooling, and Split-Interest Agreements 173

Chapter 11 Subsidiaries and Interrelated Entities 183

Chapter 12 Budget Development and Applications 189

Chapter 13 Special Types of NFP Organizations 199

Chapter 14 Regulatory Reporting (990,990-T, and 990-PF) 205

Chapter 15 Contribution/Grant Applications and Reporting 227

Chapter 16 Audits-Preparation and Response 235

Chapter 17 Conclusion 243

Appendix A Tax-Exempt Organization Reference Chart 245

Appendix B Smaple NFP Chart of Accounts 253

Appendix C Abbreviations 257

Glossary 259

About the Author 269

Index 271

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