Understand the elements of the statement of functional expense and how to make it meaningful to your audience.
Functional expense reporting can be complex. Organizations are tasked with tracking expenses by natural account and function. Certain expenses are directly assigned to a specific function, while others may indirectly relate to multiple functions. This topic will help you understand the elements of the statement of functional expenses and how to make it meaningful to your audience. You will be able to understand the different types of costs methods for allocating costs. This material will put it all together with schedule examples and a review about required disclosures.
Learning Objectives
- You will be able to define the elements of the statement of functional expenses.
- You will be able to discuss the presentation and disclosure.
- You will be able to explain how to allocate costs between functions.
- You will be able to review schedule examples.
Agenda
Elements of the Statement of Functional Expenses
- Programs
- Management and General
- Fundraising
- Membership Development
Allocating Costs
- Direct Costs
- Non-Program Direct Costs
- Methods of Allocation
Putting It All Together
- Presentation of Functional Expense Statement
- Disclosures Associated With the Functional Expenses
Speakers
Mark Robins, CPA,
Aronson LLC- Director, Assurance Services at Aronson LLC
- Over 10 years of experience in public accounting
- Specialize in nonprofit financial reporting and auditing
- Conducts regular seminars and workshops internally and externally on various topics in accounting and auditing
- Member of the AICPA
- B.S. degree in accounting, California State University Northridge
- Can be contacted at 240-364-2645 or mrobins@aronsonllc.com
Eric Hittle, CPA,
Aronson LLC- Senior associate, assurances services at Aronson LLC
- Six years of experience in public accounting
- Specializes in nonprofit accounting
- Member of AICPA
- M.A. degree in professional accountancy, Montana State University, Bozeman
- Can be contacted at 240-364-2721 or ehittle@aronsonllc.com
Who Should Attend
This live webinar is designed for Accountants, CPAs, executive directors, officers, controllers, CFOs, and tax managers.
