Ensure that your not-for-profit accounting is airtight for 2020
Not-for profit organizations have unique characteristics, so they must adhere to a specific set of generally accepted accounting principles (GAAP). Wiley Not-For-Profit GAAP 2020 provides practical guidance on how to identify and apply the relevant standards. This guide is indispensable for professionals responsible for preparing and auditing not-for-profit accounts. You will learn how to interpret the relevant accounting principles and how to apply them, all while minimizing unnecessary effort and eliminating potentially costly errors.
This comprehensive yet concise text thoroughly examines the latest standards for measurement, presentation, and disclosure related to not-for-profits. It covers the Financial Accounting Standards Board (FASB) Accounting Standards Codification, all relevant Accounting Standards Updates, and other guidance that applies to not-for-profit organizations, particularly that of the American Institute of Certified Public Accountants (AICPA). With this unrivalled reference tool, your not-for-profit GAAP questions are answered.
- Easily understand the latest not-for-profit GAAP with visual aids, including flowcharts, diagrams, and illustrations
- Navigate complex requirements and ensure completeness of GAAP disclosures
- Stay current with all not-for-profit accounting pronouncements, including FASB, AICPA, and more
- Enjoy practical, user-friendly guidance on applying the relevant accounting standards in your not-for-profit organization
With Wiley Not-For-Profit GAAP 2020, you can be assured you have the most current, comprehensive accounting information that applies to nonprofit organizations. Stay in compliance and ensure timely, accurate reporting with this authoritative volume.
Table of Contents
Preface vii
About the Authors ix
Not-for-Profit Accounting Literature xi
Part 1 Overview of Not-for-Profit Organizations 1
Chapter 1 Overview of Not-for-Profit Organizations 3
Chapter 2 Cash versus Accrual-Basis Accounting 11
Part 2 Basic Financial Statements 21
Chapter 3 Statement of Financial Position 23
Chapter 4 Statement of Activities 31
Chapter 5 Statement of Cash Flows 39
Chapter 6 Other Financial Statement Issues 55
Part 3 Specific Not-for-Profit Accounting Topics 73
Chapter 7 Fund Accounting 75
Chapter 8 Net Assets 87
Chapter 9 Contributions, Pledges, Noncash Contributions, and Exchange Transactions 97
Chapter 10 Investments 143
Chapter 11 Affiliated Organizations 163
Chapter 12 Split-Interest Agreements 185
Chapter 13 Fundraising and Joint Costs 195
Chapter 14 Functional Reporting 209
Chapter 15 Collections 215
Part 4 Other Accounting-Related Not-for-Profit Topics 219
Chapter 16 Accounting for Specific Types of Not-for-Profits 221
Chapter 17 Importance of Budgets to a Not-for-Profit 235
Chapter 18 Principal Federal and State Tax Reporting and Regulatory Requirements 253
Part 5 General Accounting Topics Applied to Not-for-Profit Organizations 315
Chapter 19 Current Assets and Current Liabilities 317
Chapter 20 Inventory 325
Chapter 21 Long-Lived Assets, Depreciation, and Impairment 333
Chapter 22 Intangible Assets 345
Chapter 23 Contingencies 355
Chapter 24 Mergers and Acquisitions 371
Chapter 25 Accounting for Pensions and Postretirement Benefits 385
Chapter 26 Long-Term Liabilities 423
Chapter 27 Accounting Changes 441
Chapter 28 Accounting for Leases 447
Chapter 29 Financial Instruments 485
Chapter 30 Capitalization of Interest Costs 497
Appendix: Disclosure Checklist 503
Index 533
