This title provides the tools necessary to go beyond the theory and create value-added services for accountants’ clients. In the not-for-profit arena. This book allows readers to examine, evaluate, and perform case studies, which will enhance their working knowledge of fundamental not-for-profit accounting and reporting, presentation requirements, note disclosures unique to not-for-profits, and options allowed under generally accepted accounting principles.
Key topics include:
- Financial statement presentation, including FASB's financial reporting standard
- Statement of activities
- Statement of financial position and statement of cash flow
- Note disclosures
- Contribution concepts
- Functional expense and allocation of costs
- Endowments
- Operating versus non-operating
- Split interest agreements and beneficial trusts
- Agency transactions
- Programmatic investments
- Common financial statement mistakes
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Case Study 1 The Big Picture |
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1 | (1) |
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Case Study 2 Statement of Activities |
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2 | (1) |
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Case Study 3 Statement of Financial Position and Statement of Cash Flows |
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3 | (1) |
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Case Study 4 Note Disclosures |
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4 | (1) |
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Case Study 5 Contribution Concepts |
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5 | (1) |
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Case Study 6 Contribution Versus Exchange Transactions |
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6 | (1) |
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Case Study 7 Contributed Services, Facilities, and Gifts In-Kind |
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7 | (1) |
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8 | (1) |
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Case Study 9 Functional Expenses and Allocation of Costs |
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9 | (1) |
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10 | (1) |
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Case Study 11 Operating Versus Non-operating |
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11 | (1) |
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Case Study 12 Split-Interest Agreements and Beneficial Trusts |
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12 | (1) |
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12 | (1) |
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Case Study 13 Relationships With Other Entities |
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13 | (1) |
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Relationships with other NFPs |
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13 | (1) |
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Relationship with for-profit entities |
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13 | (1) |
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Consolidated financial statements |
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13 | (1) |
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Case Study 14 Agency Transactions |
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14 | (1) |
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Case Study 15 Programmatic Investments |
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15 | (1) |
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Case Study 16 Common Financial Statement Mistakes |
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16 | |
| Glossary |
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1 | (1) |
| Index |
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1 | (46) |
Melisa F. Galasso, CPA, is the founder and CEO of Galasso Learning Solutions LLC. She designs and facilitates courses in advanced technical accounting and auditing topics, including not for profit and governmental accounting. Galasso is a Certified Professional in Learning & Performance (CPLP) and has earned the Association for Talent Development Master Trainer designation. She also serves on the FASB's Not-for-Profit Advisory Committee (NAC), the AICPAs Technical Issues Committee (TIC), has had leadership roles on various A&A committees, and serves on the VSCPA's Board of Directors. She is a 2020 Enterprising Women of the Year Award recipient and was honored as a "40 under 40" by CPA Practice Advisor in 2017 and 2018. She was also named the 2019 Rising Star by her regional NAWBO chapter, received the Don Farmer award for achievement in technical content instruction, and earned several other awards for public speaking and technical training.
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