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Home > Specialized Knowledge > Not-for-Profit Accounting & Reporting Made Simple
Prerequisite
None
Knowledge Level
Basic
Copyright 2013

Publication Date
August, 2013
Not-for-Profit Accounting & Reporting Made Simple
Introduction Organization Learning Objectives Author Bios
Title: Not-for-Profit Accounting & Reporting Made Simple
Prerequisite: None
Advance Preparation: None
Knowledge Level: Basic
Subject Matter Area: Specialized Knowledge
Date of Publication: August 2013
Copyright © 2013 by Bisk Education, Inc. All rights reserved.
Recommended CPE Credits:  
     Textbook w/Video Online: 12 QAS/Registry (based on 50-minute hour)
     Textbook Only & Online: 9 QAS/Registry (based on 50-minute hour)
Expiration Date: One year from date of receipt to complete program and submit quizzer to obtain credit
Passing Grade for Quizzer: 70 percent or higher



Use of Materials

DVD
The user should begin by watching the DVD segment, if any, for the chapter before reading the text. The user may wish to make notes of the most important concepts and any terms that are new. Next, the user should review the learning objectives at the beginning of the chapter and read the chapter. The user should work through each of the examples. It may be helpful to highlight important material and/or to make additional notes. Next, the user should complete the study questions at the end of the chapter and review the answers. If the user answers a study question incorrectly, s/he should review the section of the text that is indicated at the end of the explanation to the study question to assure comprehension of the material. The user should review the learning objectives once more to consider achievement of the objectives. After the user has finished watching the DVD and reading the text and working through the study questions, s/he may wish to review her/his notes and any sections of the text or DVD that were difficult. When the user is ready, s/he should complete the quizzer. Reviewing notes periodically will increase retention of the material.

Online
The user should begin by watching the streamed video segment, if any, or listening to the streamed audio segment, if any, for the chapter before reading the text. The user may wish to make notes of the most important concepts and any terms that are new. Next, the user should review the learning objectives at the beginning of the chapter and read the chapter. The user should work through each of the examples. After the user has studied each chapter, s/he should click on the link at the left to complete the interactive study questions. If the user answers a study question incorrectly, s/he should review the section of the text that is indicated at the end of the explanation to the study question to assure comprehension of the material. The user should review the learning objectives once more to consider achievement of the objectives. After the user has finished watching the streamed video, if any, or listening to the streamed audio, if any, and reading the text and working through the study questions, s/he may wish to review her/his notes and any sections of the text or video/audio, if any, that were difficult. When the user is ready, s/he should click on the link to the left to complete the quizzer. The user's CPE certificate will be provided immediately upon successful completion of the quizzer.



This program is divided into six (6) chapters and a glossary.

Chapter 1 discusses cash and investments and the specific not-for-profit guidance provided for each.

Chapter 2 discusses transfers, mergers, and acquisitions.

Chapter 3 reviews contributions and exchange transactions and provides guidance on the reporting requirements for each.

Chapter 4 looks at split interest and other planned giving arrangements.

Chapter 5 discusses accounting for joint activities and joint costs.

Chapter 6 reviews strategic issues of importance for not-for-profit entities.

Chapter 7 contains a Glossary that defines frequently used key terms.


Helpful Guidance

Throughout this publication, the user will find explanations and discussions regarding some of the issues that often face practitioners. In order to enhance the user's comprehension of the material and highlight important practical considerations, this publication includes the following designations:

A Biskpoint presents analysis or commentary that attempts to explain or clarify authoritative guidance.

A Bisktip provides practical advice that may be used to help improve client service or service to the practitioner's organization.



Upon successful completion of this program, the user should be able to:

  • Apply valuation guidance for NFO debt and marketable securities, and other investments

  • Discuss respective FASB Codification guidance related to investments and transfers of assets in NFO organizations

  • Discuss how the AICPA Audit and Accounting Guide for not-for-profit organizations provides guidance on both contributions and exchange transactions and split interest and other planned giving arrangements

  • Discuss when an activity is a joint activity and what costs may be allocated

  • Identify areas of strategic concern to not-for-profit organizations



Mark Gorman, CPA, is an author, lecturer, and consultant who works primarily with not-for-profit organizations. He has spent 24 years as an auditor and financial manager of NPOs, including 8 years as the Director of Finance and CFO of the Planned Parenthood Federation of America. He has worked as a volunteer Treasurer and board member for a number of community based organizations. Mr. Gorman was a member of the American Institute of Certified Public Accountants (AICPA) Tax Exempt Organizations Committee and the Not-for-Profit Organizations Committee.

Mr. Gorman was an adjunct professor of Accounting and Economics at the University of Vermont and Vermont State College, and currently teaches Accounting at Sonoma State University. He also teaches seminars for the Foundation for Accounting Education (FAE) and the AICPA, and has made presentations at AICPA national conferences and other professional forums. He has authored articles appearing in the Journal of Accountancy and Philanthropy Monthly, and written CPE courses on not-for-profit accounting for the FAE and the AICPA. (Author)

Jennifer F. Louis, CPA, has more than 20 years of experience in designing and instructing high-quality training programs. In 2003 she joined Emergent Solutions Group, LLC, a consortium of professionals serving organizations on a project- or part-time basis to create a division dedicated to training services.

Most recently, Ms. Louis was executive vice president/director of training services at AuditWatch, Inc., a premier training and consulting firm serving the audit profession. She began her career at AuditWatch as vice president of product development. Before joining AuditWatch, Ms. Louis was the financial/operational audit manager at AARP.

Ms. Louis also was an audit manager for Deloitte & Touche LLP. During her years at Deloitte & Touche's Washington D.C. office, she was a frequent local and national instructor. She also served as an instructor for the firm's national "Train the Trainers" Program.

Ms. Louis graduated summa cum laude from Marymount University with a BBA in accounting. She is a member of the American Institute of CPAs and the American Society for Training & Development, and is licensed to practice in the Commonwealth of Virginia. (Contributing Author/Speaker)



Buy Now
Select your learning format 
Qty. FormatCreditsProduct # Unit Price Ext Price
3611 Online12ONL8115 $145.00
3609 TextBooks6CPE8112B $109.00
3610 Video DVD8CPE8111DQ $179.00



 
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