The ABCs of Not-For-Profit Accounting and Financial/990 Reporting

Auteur

Laurence Scot is the co-managing partner of Skody Scot & Company, an NYC based CPA firm formed in 1990 that specializes in servicing local, national, and international NFPs. He is certified in NJ & NY, taught, and continues to teach undergraduate and graduate courses at several colleges, has been lecturing and giving seminars on many subjects for 25+ years, has written peer-reviewed articles, and has received several awards for his civic activities.

Texte du rabat

Written in non-complicated prose and reducing complex rules to easily understandable concepts, this book offers a fundamental understanding of how not-for-profit organizations are formed, their structure, and the unique accounting and reporting issues they face.

Contenu

CHAPTER 1: INTRODUCTION. CHAPTER 2: NOT-FOR-PROFIT (NFP) FORMATION, OBTAINING INCOME TAX EXEMPTION & REGISTRATIONS. CHAPTER 3: NFP OVERSIGHT & MANAGEMENT. CHAPTER 4: NFP INTERNAL CONTROLS & ACCOUNTING SYSTEM. CHAPTER 5: NFP GENERALLY ACCEPTED ACCOUNTING PRINCIPLES (GAAP). CHAPTER 6: ACCOUNTING FOR ASSETS (INCLUDING RECEIVABLES & OPERATING LEASES). CHAPTER 7: ACCOUNTING FOR LIABILITIES & NET ASSETS. CHAPTER 8: ACCOUNTING FOR SUPPORT AND REVENUE (INCLUDING CONTRIBUTIONS & GOVERNMENT GRANTS). CHAPTER 9: FISCAL SPONSORS, FISCAL AGENTS & DONOR-ADVISED FUNDS. CHAPTER 10: ACCOUNTING FOR PERSONNEL & OTHER EXPENSES. CHAPTER 11: NFP FINANCIAL STATEMENTS. CHAPTER 12: INVESTMENTS, POOLING, AND SPLIT-INTEREST AGREEMENTS. CHAPTER 13: SUBSIDIARIES & INTERRELATED ENTITIES. CHAPTER 14: BUDGET DEVELOPMENT AND APPLICATIONS. CHAPTER 15: SPECIAL TYPES OF NFP ORGANIZATIONS. CHAPTER 16: REGULATORY REPORTING (990, 990-T, & 990-PF). CHAPTER 17: CONTRIBUTIONS/GRANT APPLICATIONS & REPORTING. CHAPTER 18: AUDITS - TYPES & PROCEDURES. CHAPTER 19: CONCLUSION. APPENDIX A: TAX-EXEMPT ORGANIZATION REFERENCE CHART. APPENDIX B: SAMPLE NFP CHART OF ACCOUNTS. APPENDIX C: ABBREVIATIONS