Wiley Not-for-Profit GAAP 2012: Interpretation and Application of Generally Accepted Accounting Principles

Wiley Not-for-Profit GAAP 2012: Interpretation and Application of Generally Accepted Accounting Principles

by Richard F. Larkin, Marie DiTommaso

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Product Details

ISBN-13: 9781118235171
Publisher: Wiley
Publication date: 01/10/2012
Sold by: Barnes & Noble
Format: NOOK Book
Pages: 549
File size: 14 MB
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About the Author

Richard F. Larkin, CPA (Bethesda, MD) is technical director of not-for-profit accounting and auditing for Long Group, Chartered, in Bethesda, Maryland. He is a certified public accountant with over 35 years of experience serving not-for-profit organizations. He teaches, speaks, and writes extensively on not-for-profit industry matters.

Marie DiTommaso, CPA, (Woodcliff Lake, NJ) is a partner in her own CPA practice, DiTommaso&Ruppel, CPAs. She has over 20 years of experience in accounting and financial reporting in both the not-for-profit and commercial accounting environments.

Table of Contents

Preface vii

About the Authors ix

Not-for-Profit Accounting Literature xi

Part 1 Overview of Not-for-Profit Organizations

Chapter 1 Overview of Not-for-Profit Organizations 3

Chapter 2 Cash versus Accrual Basis Accounting 9

Part 2 Basic Financial Statements

Chapter 3 Statement of Financial Position 21

Chapter 4 Statement of Activities 27

Chapter 5 Statement of Cash Flows 37

Chapter 6 Other Financial Statement Issues 51

Part 3 Specific Not-for-Profit Accounting Topics

Chapter 7 Fund Accounting 73

Chapter 8 Net Assets 85

Chapter 9 Contributions, Pledges, and Noncash Contributions 93

Appendix A Checklist 120

Appendix B Checklist 122

Appendix C Checklist 124

Appendix D Checklist 126

Appendix E Checklist 128

Appendix F Checklist 131

Appendix G Checklist 135

Chapter 10 Investments 137

Chapter 11 Affiliated Organizations 159

Appendix A Checklist 180

Chapter 12 Split-Interest Agreements 183

Chapter 13 Fund-Raising and Joint Costs 195

Appendix A Checklist 207

Chapter 14 Functional Reporting 209

Chapter 15 Collections 215

Part 4 Other Accounting-Related Not-for-Profit Topics

Chapter 16 Accounting for Specific Types of Not-for-Profits 221

Associations and Professional Societies 222

Churches 224

Clubs 225

Libraries 227

Museums 227

Performing Arts Organizations 228

Private Foundations 230

Religious Organizations other than Churches 232

Research and Scientific Organizations 233

Private Elementary and Secondary Schools 234

Public Broadcasting Systems 235

Chapter 17 Importance of Budgets to a Not-for-Profit 237

Chapter 18 Principal Federal and State Tax Reporting and Regulatory Requirements 257

Part 5 General Accounting Topics Applied to Not-for-Profit Organizations

Chapter 19 Current Assets and Current Liabilities 315

Chapter 20 Inventory 323

Chapter 21 Long-Lived Assets, Depreciation, and Impairment 333

Chapter 22 Intangible Assets 347

Chapter 23 Contingencies 355

Chapter 24 Mergers and Acquisitions 369

Chapter 25 Accounting for Pensions and Postretirement Benefits 387

Chapter 26 Long-Term Liabilities 427

Chapter 27 Accounting Changes 445

Chapter 28 Accounting for Leases 453

Chapter 29 Financial Instruments 489

Chapter 30 Capitalization of Interest Costs 503

Appendix: Disclosure Checklist 509

Index 539

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