The 2016 edition provides assistance in the unique preparation, auditing, accounting and reporting of financial statements for not–for–profit entities.
This new edition includes guidance on reporting donated services between affiliated NFPs, split–interest agreements, contributions and grants, functional expenses and joint costs, and much more.
Key Benefits:
- Properly report complex revenue and expense transactions that have a material effect on financial reporting
- Gain an understanding of the accounting issues that are unique to NFPs, such as donor restrictions on contributions
- Understand the unique audit areas in NFPs and how to address the risk of material misstatement
- Properly account for the relationships between NFPs and other entities
- Understand the disclosure requirements related to reporting transactions that are common to NFPs
Updates:
- FASB ASU No. 2013–06, Not–for–Profit Entities (Topic 958): Services Received from Personnel of an Affiliate (a consensus of the FASB Emerging Issues Task Force)
- FASB ASU No. 2014–04, Receivables Troubled Debt Restructurings by Creditors (Subtopic 310–40): Reclassification of Residential Real Estate Collateralized Mortgage Loans upon Foreclosure (a consensus of the FASB Emerging Issues Task Force)
- FASB ASU No. 2014–08, Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity
- FASB ASU No. 2015–10, Technical Corrections and Improvements
Who Will Benefit:
- Audit and accounting firms with nonprofit engagements
- Financial managers at nonprofit organizations
- ISBN10 1943546436
- ISBN13 9781943546435
- Publish Date 28 November 2017
- Publish Status Out of Print
- Out of Print 17 October 2023
- Publish Country US
- Publisher John Wiley & Sons Inc
- Imprint American Institute of Certified Public Accountants
- Format Paperback
- Pages 688
- Language English