How to Read Nonprofit Financial Statements, 3e – A Practical Guide

Name: How to Read Nonprofit Financial Statements, 3e – A Practical Guide
Author: A Lang

A Practical Guide

Paperback Engels 2017 9781118976692

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Samenvatting

EXPERT GUIDANCE ON HOW TO READ, INTERPRET, AND USE NONPROFIT FINANCIAL STATEMENTS UPDATED TO INCLUDE THE NEW FASB STANDARD FOR NONPROFIT FINANCIAL REPORTING

Whether you re a nonprofit executive unfamiliar with the language of financial statements or a seasoned pro, this book is the only guide you ll need to correctly interpret those critical documents, refresh your skills and familiarize yourself with the new FASB nonprofit reporting standards.

The intent behind the recent FASB accounting standards update was to improve the clarity and usefulness of nonprofit financial statements. But making sense of those statements can still be tough for the uninitiated. Accountants and non–accountants who use and prepare nonprofit financial statements need guidance on how to interpret and implement these new FASB standards. Written for both audiences, this book:

Clearly defines accounting terminology and concepts, while offering numerous examples of financial statements reflecting both the old and new FASB standards

Steers you, line–by–line, through financial reports, providing in–depth explanations of the differences between the old and new standards

Provides numerous illustrations to help you quickly feel at home with the format of nonprofit financial statements

Offers exercises to help you gain insight into the core concepts of nonprofit financial statements and reinforce your command of those concepts

In addition to the new FASB standards, this expanded edition includes:

A new chapter on reserves, a long–standing challenge for nonprofits

A new section on general financial analysis, outlining what financial statement readers should look for to stay informed and satisfy their responsibility regardless of their role

A new chapter on benchmarking to help nonprofits measure performance against industry peers

How to Read Nonprofit Financial Statements, Third Edition is an invaluable resource for anyone who reads, interprets, or prepares these all–important documents.

Specificaties

ISBN13:9781118976692

Taal:Engels

Bindwijze:paperback

Aantal pagina's:272

Uitgever:John Wiley & Sons

Hoofdrubriek:Financieel management, Algemeen management

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Inhoudsopgave

Preface vii
Learning Objectives ix
Introduction xi
Chapter 1 Why You Need to Understand the Update to the Nonprofit Reporting Model 1
Chapter 2 Why Update the Nonprofit Reporting Model? 3
Chapter 3 Highlights of the Major Changes to the Nonprofit Reporting Model 5
Chapter 4 What Is the Purpose of Financial Statements? 11
Chapter 5 Types of Financial Statements 13
Chapter 6 How to Read a Nonprofit Financial Statement 15
Chapter 7 Statement of Financial Position 17
Chapter 8 Statement of Activities 19
Chapter 9 Statement of Cash Flows 23
Chapter 10 Statement of Functional Expenses 25
Chapter 11 Footnotes to Financial Statements 27
Chapter 12 Internal versus External (Audited) Financial Statements 29
Chapter 13 The Independent Auditor s Report 31
Chapter 14 Other Types of Auditor Opinions 35
Chapter 15 Supplemental Information 37
Chapter 16 Reserves 39
Chapter 17 Financial Statement Exercises 43
Chapter 18 Example Set 1 45
Chapter 19 Example Set 2 101
Chapter 20 Example Set 3 157
Chapter 21 Financial Analysis 223
Chapter 22 Benchmarking 227
Chapter 23 Increasing Complexity in Nonprofit Financial Reporting 231
Chapter 24 Nonprofits Subject to Government Auditing Standards and a Single Audit under the Uniform Guidance 235
Glossary Prior to Effective Date of ASU 2016–14 241
Glossary Amendments Made upon Adoption of ASU 2016–14 247
About the Authors 251
Index 255