The Simplified Guide to Not-for-Profit Accounting, Formation, and Reporting

Informationen zum Autor LAURENCE SCOT is the cofounder and comanaging partner of Skody Scot & Company, a midtown CPA firm formed in 1990 that specializes in servicing the Not-for-Profit community. Scot has taught undergraduate and graduate classes at several colleges; been lecturing and giving seminars to CPAs, bankers, NFP D&Os (directors and officers), managers, and entrepreneurs for over twenty years on a variety of subjects; and is the creator of the first in-class certificate program in Not-for-Profit accounting and governmental reporting. Klappentext Praise for THE SIMPLIFIED GUIDE TO NOT-FOR-PROFIT ACCOUNTING, FORMATION & REPORTING >--Richard Tierney, Director of Finance, North Shore Animal League America >--Rev. Luke L. Travers, OSB, Business Officer, Delbarton School/St. Mary's Abbey >--Gail Rizick, CPA/ABV/CFF, CVA, Cr.FA, ASA YOUR A-TO-Z GUIDE TO NOT-FOR-PROFIT FORMATION, ACCOUNTING, AND REPORTING If you need basic, easy-to-understand information on how Not-for-Profit organizations are formed, how they're structured, and the unique accounting and reporting issues they face, The Simplified Guide to Not-for-Profit Accounting, Formation, and Reporting is the only resource you need. This comprehensive guide provides you with expert advice on how to maintain the financial "books" of a typical Not-for-Profit entity and what is needed to comply with most reporting requirements. Plus, it lays out what a Not-for-Profit organization is, the rules it must follow, the role and responsibilities of its board of directors, and the various regulatory agencies that Not-for-Profits must report to. Straightforward and hands-on, this effective reference will help you navigate through all of the key accounting and reporting issues unique to the Not-for-Profit world, including: Step-by-step instructions for forming a Not-for-Profit Not-for-Profit internal controls and financial statements Developing a "chart of accounts" and operating budgets Not-for-Profit accounting rules and GAAP Everything you need to know about the new Form 990 Accounting for unrestricted and restricted contributions, grants, and other revenue Plus much more! Whether you are performing accounting functions, responsible for financial management, or simply want to understand Not-for-Profit accounting, operations, and reporting, The Simplified Guide to Not-for-Profit Accounting, Formation, and Reporting is a great and handy book to have around for easy reference. Zusammenfassung A complete and easy to understand guide to the fundamentals of how not-for-profit organizations are formed and run! as well as their structure and the unique accounting and reporting issues they face. Inhaltsverzeichnis Preface vii Chapter 1 Introduction 1 Chapter 2 Nfp Organization Formation 7 Chapter 3 Nfp Organizational Structure 29 Chapter 4 Introduction to Nfp Accounting and Reporting 41 Chapter 5 Nfp Accounting System and Financial Statements 63 Chapter 6 Assets-concepts and Data Flow 87 Chapter 7 Liabilities and Net Assets-Concepts and Data Flow 123 Chapter 8 Accounting for Support and Revenue 139 Chapter 9 Accounting for Personnel Costs, and other Expenses 155 Chapter 10 Investments, Pooling, and Split-interest Agreements 173 Chapter 11 Subsidiaries and Interrelated Entities 183 Chapter 12 Budget Development and Applications 189 Chapter 13 Special Types of Nfp Organizations 199 Chapter 14 Regulatory Reporting (990, 990-T, and 990-PF) 205 Chapter 15 Contribution/grant Applications and Reporting 227 Chapter 16 Audits-preparation and Response 235 Chapter 17 Conclusion 243 Appendix A Tax-exempt Organization Reference Chart 245 Appendix B Sample Nfp Chart of Accounts 253 Appendix C Abbreviations 257 Glossary 259*LAURENCE SCOT is the cofounder and comanaging partner of Skody Scot & Company, a midtown CPA firm formed in 1990 that specializes in servicing the Not-for-Profit community. Scot has taught undergraduate and graduate classes at several colleges; been lecturing and giving seminars to CPAs, bankers, NFP D&Os (directors and officers), managers, and entrepreneurs for over twenty years on a variety of subjects; and is the creator of the first in-class certificate program in Not-for-Profit accounting and governmental reporting.

Texte du rabat

Praise for THE SIMPLIFIED GUIDE TO NOT-FOR-PROFIT ACCOUNTING, FORMATION & REPORTING >--Richard Tierney, Director of Finance, North Shore Animal League America >--Rev. Luke L. Travers, OSB, Business Officer, Delbarton School/St. Mary's Abbey >--Gail Rizick, CPA/ABV/CFF, CVA, Cr.FA, ASA YOUR A-TO-Z GUIDE TO NOT-FOR-PROFIT FORMATION, ACCOUNTING, AND REPORTING If you need basic, easy-to-understand information on how Not-for-Profit organizations are formed, how they're structured, and the unique accounting and reporting issues they face, The Simplified Guide to Not-for-Profit Accounting, Formation, and Reporting is the only resource you need. This comprehensive guide provides you with expert advice on how to maintain the financial "books" of a typical Not-for-Profit entity and what is needed to comply with most reporting requirements. Plus, it lays out what a Not-for-Profit organization is, the rules it must follow, the role and responsibilities of its board of directors, and the various regulatory agencies that Not-for-Profits must report to. Straightforward and hands-on, this effective reference will help you navigate through all of the key accounting and reporting issues unique to the Not-for-Profit world, including:

• Step-by-step instructions for forming a Not-for-Profit
• Not-for-Profit internal controls and financial statements
• Developing a "chart of accounts" and operating budgets
• Not-for-Profit accounting rules and GAAP
• Everything you need to know about the new Form 990
• Accounting for unrestricted and restricted contributions, grants, and other revenue
• Plus much more! Whether you are performing accounting functions, responsible for financial management, or simply want to understand Not-for-Profit accounting, operations, and reporting, The Simplified Guide to Not-for-Profit Accounting, Formation, and Reporting is a great and handy book to have around for easy reference.

Résumé

• A complete and easy to understand guide to the fundamentals of how not-for-profit organizations are formed and run, as well as their structure and the unique accounting and reporting issues they face.

Contenu

Preface vii

Chapter 1 Introduction 1

Chapter 2 Nfp Organization Formation 7

Chapter 3 Nfp Organizational Structure 29

Chapter 4 Introduction to Nfp Accounting and Reporting 41

Chapter 5 Nfp Accounting System and Financial Statements 63

Chapter 6 Assets-concepts and Data Flow 87

Chapter 7 Liabilities and Net Assets-Concepts and Data Flow 123

Chapter 8 Accounting for Support and Revenue 139

Chapter 9 Accounting for Personnel Costs, and other Expenses 155

Chapter 10 Investments, Pooling, and Split-interest Agreements 173

Chapter 11 Subsidiaries and Interrelated Entities 183

Chapter 12 Budget Development and Applications 189

Chapter 13 Special Types of Nfp Organizations 199

Chapter 14 Regulatory Reporting (990, 990-T, and 990-PF) 205

Chapter 15 Contribution/grant Applications and Reporting 227

Chapter 16 Audits-preparation and Response 235

Chapter 17 Conclusion 243

Appendix A Tax-exempt Organization Reference Chart 245

Appendix B Sample Nfp Chart of Accounts 253

Appendix C Abbreviations 257

Glossary 259

About the Author 269

Index 271