A hands-on guide to the ins and outs of nonprofit accounting
Not-for-Profit Accounting Made Easy, Second Edition equips you with the tools you need to run the financial and accounting operations within your nonprofit organization. Even if you do not have a professional understanding of accounting principles and financial reporting, this handy guide makes it all clear with complex accounting rules explained in terms nonaccountants can easily understand in order to help you better fulfill your managerial and fiduciary duties. Always practical and never overtechnical, this helpful guide conforms to FASB and AICPA standards and: *
Discusses federal single audit and its impact on nonprofits *
Offers examples of various types of split-interest agreements *
Shows you how to read and understand a nonprofit financial statement *
Explains financial accounting and reporting standards *
Helps you become conversant in the rules and principles of accounting *
Updates board members, executive directors, and other senior managers on the accounting basics they should know for day-to-day operations *
Features tables, exhibits, and charts that illustrate the content in a simple and easy-to-understand manner
Suitable for fundraising managers and executives--as well as anyone who needs to read and understand a nonprofit financial statement--this is the ultimate not-an-accountant's guide to nonprofit accounting.
About the Author
WARREN RUPPEL, CPA, is the Director of Government Services at Marks Paneth & Shron LLP, where he is also a key member of the firm's quality assurance function. He is the author of several Wiley accounting publications, including Not-for-Profit Audit Committee Best Practices, and Wiley GAAP for Governments, as well as CCH's Not-for-Profit Organization Audits. He began his career at KPMG and later joined Deloitte & Touche to specialize in audits of not-for-profit organizations and governments. He has since served as the chief financial officer of an international not-for-profit organization and, most recently, was the assistant comptroller for accounting of the City of New York where he was responsible for the City's accounting and financial reporting. He has also served as chair of the audit commitee of the New York State Society of CPAs.
New to Edition
NEW: Updated GAAP hierarchy discussion includes PCAOB and its impact on standards setting and applicability to not-for-profit organizations
NEW: Discussion of federal single audit and its impact on not-for-profits
NEW: Examples of various types of split-interest agreements
Includes description of the applicable FASB and other pronouncements issued over the last four years
Updated status of FASB project on consolidations
Derivatives covered in easy-to-understand language
Updated pension and lease accounting in simplified language and discussion
Updated coverage of asset and liability accounts for new FASB statement, including fixed assets and inventory
