Not-for-Profit Accounting Made Easy Second Edition The world of accounting can be intimidating but there's no way to avoid it--even nonprofit organizations must venture into financial jargon and concepts. Now in a second edition, Not-for-Profit Accounting Made Easy, Second Edition shows you how to read and understand a nonprofit financial statement, while providing you with a basic understanding of the accounting and financial reporting practices of a nonprofit. Clarifying nonprofit accounting principles and reporting standards in simple terms that are easily understood by those with little or…mehr
Not-for-Profit Accounting Made Easy Second Edition The world of accounting can be intimidating but there's no way to avoid it--even nonprofit organizations must venture into financial jargon and concepts. Now in a second edition, Not-for-Profit Accounting Made Easy, Second Edition shows you how to read and understand a nonprofit financial statement, while providing you with a basic understanding of the accounting and financial reporting practices of a nonprofit. Clarifying nonprofit accounting principles and reporting standards in simple terms that are easily understood by those with little or no prior accounting experience, Nonprofit Accounting Made Easy, Second Edition conforms to FASB and AICPA standards and forms and introduces you to: * Basic accounting terminology * Fundamental accounting concepts * Basic financial statements of a nonprofit organization * Accounting for contributions, investments and financial instruments, activities with joint costs, affiliated organizations, and collections * Accounting peculiarities of health care, education, and religious and cultural nonprofits * Accounting for leases * Accounting for pension plans and other employee benefit plans Simple and practical in approach, this book is helpful not only for nonaccountants with accounting duties but also for people who work with nonprofits in a variety of capacities. Since nonprofit accounting differs in many subtle ways from normal business accounting, this book shows you how to brush up on the idiosyncrasies that separate the two. Management and staff, board members, consultants, donors, and creditors can all benefit from understanding the fundamental principles of nonprofit accounting. With updated GAAP hierarchy discussions including the PCAOB and its impact on standards setting and applicability to nonprofit organizations, Nonprofit Accounting Made Easy, Second Edition offers a wealth of practical information on putting accounting principles to work for your nonprofit.Hinweis: Dieser Artikel kann nur an eine deutsche Lieferadresse ausgeliefert werden.
WARREN RUPPEL, CPA, is the Director of Government Services at Marks Paneth & Shron LLP, where he is also a key member of the firm's quality assurance function. He is the author of several Wiley accounting publications, including Not-for-Profit Audit Committee Best Practices, and Wiley GAAP for Governments, as well as CCH's Not-for-Profit Organization Audits. He began his career at KPMG and later joined Deloitte & Touche to specialize in audits of not-for-profit organizations and governments. He has since served as the chief financial officer of an international not-for-profit organization and, most recently, was the assistant comptroller for accounting of the City of New York where he was responsible for the City's accounting and financial reporting. He has also served as chair of the audit commitee of the New York State Society of CPAs.
Inhaltsangabe
Preface ix Chapter 1 Understanding the Basics of Not-for-Profit Accounting 1 What Are Generally Accepted Accounting Principles? 1 Why Is Preparing GAAP Financial Statements Important? 2 Definitions and Examples of Assets, Liabilities, Reve nues, and Expenses Usually Found in Not-for-Profit Organizations' Financial Statements 6 What Is Meant by the Accrual Basis of Accounting? How Does This Differ from the Cash Basis of Ac- counting, and Which Is Better? 36 What Happened to Fund Accounting? 40 Summary 42 Chapter 2 Basic Financial Statements of a Not-for-profit Organization 43 Statement of Financial Position 44 Statement of Activities 46 Statement of Cash Flows 56 Summary 63 Chapter 3 Accounting for Contributions 65 When Should Contributions Be Recorded? 66 Understanding the Impact of Donor Restrictions on the Reporting of Contributions 72 Accounting for Contributed Services 74 Accounting for Other Noncash Contributions 75 Pass-Through Contributions 76 Summary 82 Chapter 4 Accounting for Investments and Financial Instruments 83 Accounting for Investments 84 Accounting and Financial Reporting for Financial Instruments 98 Summary 107 Chapter 5 Accounting for Activities with Joint Costs and Indirect Cost Allocation 109 Accounting for the Costs of Activities that Include Fund-Raising 110 Allocation Methods 117 Indirect Cost Allocation Plans 119 Summary 124 Chapter 6 Affiliated Organizations 125 Affiliated Organizations 126 For-Profit Subsidiaries 135 Related-Party Disclosures 137 Summary 140 Chapter 7 Collections 141 What Is a Collection? 142 Accounting for Collections 143 Summary 146 Chapter 8 Split-Interest Agreements 147 Accounting Fundamentals 148 Revocable Split-Interest Agreements 149 Irrevocable Split-Interest Agreements 150 Examples of Split-Interest Agreements 153 Summary 158 Chapter 9 Accounting for Pension and Other Postretirement Employee Benefit Plans 159 Accounting for Pension Plans 160 Determining Pension Expense 164 Determining Pension Liability 165 Actuarial Assumptions and Calculations 168 Required Disclosures 171 Deferred Compensation Plans 172 Other Postretirement Benefits 173 Disclosures 176 Summary 177 Chapter 10 Lease Accounting Fundamentals 179 Lease Accounting 180 Operating versus Capital Leases 180 Operating Leases 185 Operating Leases with Scheduled Rent Increases 187 Free Rent Periods 188 Capital Leases 189 Summary 193 Chapter 11 Analyzing the Financial Health of Not-for-Profit Organizations 195 Financial Statement Analysis 197 Independent Auditor's Report 197 Comparative Financial Statements 201 Functional Expense Ratios and Other Analyses 203 Budget Considerations in Financial Analysis 213 Relation of the Budget to the Financial Statements 214 Methods of Budgetary Control 216 Summary 218 Chapter 12 Current Developments in Not-for-Profit GAAP 221 Recent FASB Statements 222 Summary 228 Index 229
Preface ix Chapter 1 Understanding the Basics of Not-for-Profit Accounting 1 What Are Generally Accepted Accounting Principles? 1 Why Is Preparing GAAP Financial Statements Important? 2 Definitions and Examples of Assets, Liabilities, Reve nues, and Expenses Usually Found in Not-for-Profit Organizations' Financial Statements 6 What Is Meant by the Accrual Basis of Accounting? How Does This Differ from the Cash Basis of Ac- counting, and Which Is Better? 36 What Happened to Fund Accounting? 40 Summary 42 Chapter 2 Basic Financial Statements of a Not-for-profit Organization 43 Statement of Financial Position 44 Statement of Activities 46 Statement of Cash Flows 56 Summary 63 Chapter 3 Accounting for Contributions 65 When Should Contributions Be Recorded? 66 Understanding the Impact of Donor Restrictions on the Reporting of Contributions 72 Accounting for Contributed Services 74 Accounting for Other Noncash Contributions 75 Pass-Through Contributions 76 Summary 82 Chapter 4 Accounting for Investments and Financial Instruments 83 Accounting for Investments 84 Accounting and Financial Reporting for Financial Instruments 98 Summary 107 Chapter 5 Accounting for Activities with Joint Costs and Indirect Cost Allocation 109 Accounting for the Costs of Activities that Include Fund-Raising 110 Allocation Methods 117 Indirect Cost Allocation Plans 119 Summary 124 Chapter 6 Affiliated Organizations 125 Affiliated Organizations 126 For-Profit Subsidiaries 135 Related-Party Disclosures 137 Summary 140 Chapter 7 Collections 141 What Is a Collection? 142 Accounting for Collections 143 Summary 146 Chapter 8 Split-Interest Agreements 147 Accounting Fundamentals 148 Revocable Split-Interest Agreements 149 Irrevocable Split-Interest Agreements 150 Examples of Split-Interest Agreements 153 Summary 158 Chapter 9 Accounting for Pension and Other Postretirement Employee Benefit Plans 159 Accounting for Pension Plans 160 Determining Pension Expense 164 Determining Pension Liability 165 Actuarial Assumptions and Calculations 168 Required Disclosures 171 Deferred Compensation Plans 172 Other Postretirement Benefits 173 Disclosures 176 Summary 177 Chapter 10 Lease Accounting Fundamentals 179 Lease Accounting 180 Operating versus Capital Leases 180 Operating Leases 185 Operating Leases with Scheduled Rent Increases 187 Free Rent Periods 188 Capital Leases 189 Summary 193 Chapter 11 Analyzing the Financial Health of Not-for-Profit Organizations 195 Financial Statement Analysis 197 Independent Auditor's Report 197 Comparative Financial Statements 201 Functional Expense Ratios and Other Analyses 203 Budget Considerations in Financial Analysis 213 Relation of the Budget to the Financial Statements 214 Methods of Budgetary Control 216 Summary 218 Chapter 12 Current Developments in Not-for-Profit GAAP 221 Recent FASB Statements 222 Summary 228 Index 229
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