Book description
The essential not-for-profit GAAP reference, updated with the latest standardsWiley Not-for-Profit GAAP 2017 is the essential accounting resource for not-for-profit organizations, providing quick access to the most up-to-date standards and practical tools for implementation. Designed help you find the answers you need quickly and easily, this guide features helpful visual aids alongside detailed explanations tailored to the not-for-profit sector. Authoritative discussion covers Financial Accounting Standards Board (FASB) Accounting Standards Codification, which includes the standards originally issued in the Statements, Interpretations and Technical Bulletins; Accounting Principles Board Opinions, Accounting Research Bulletins, AICPA Statements of Position and FASB Emerging Issues Task Force statements relevant to the not-for-profit organization.
The unique characteristics of the not-for-profit organization demand adherence to specific GAAP; auditors and preparers must understand these standards, stay up-to-date as they continue to evolve and know how to apply them in the course of real-world financial statement preparation. This book provides the guidance you need in a user-friendly format.
- Get up to date on the latest changes to GAAP affecting not-for-profit organizations
- Reference authoritative standards for measurement, presentation and disclosure
- Consult flowcharts, diagrams and charts to find answers at a glance
- Double-check disclosures against a checklist of GAAP requirements
Accounting standards are constantly changing, and the special requirements targeting not-for-profits add an additional challenge to full compliance. Instead of wading through dozens of volumes of official pronouncements to locate relevant information, consult an all-in-one resource targeted specifically to not-for-profit GAAP — one that is updated annually to bring you the most current information available. Wiley Not-for-Profit GAAP 2017 provides clear answers and practical guidance to help you streamline GAAP implementation and ensure compliance.
Table of contents
- Cover
- Become a Subscriber!
- Title Page
- Copyright
- Preface
- About The Authors
- Not-for-Profit Accounting Literature
- Part 1: Overview of Not-for-Profit Organizations
-
Part 2: Basic Financial Statements
- Chapter 3: Statement of Financial Position
-
Chapter 4: Statement of Activities
- Perspective and Issues
- Concepts, Rules, and Examples
- Elements of the Change in Net Assets
- Classification of Revenues, Expenses, Gains and Losses, and Reclassifications
- Information about Gross Amounts of Revenues and Expenses
- Information about an Organization's Operations
- Information about an Organization's Service Efforts
- Financial Statement Presentation
- Disclosure Requirements
- Chapter 5: Statement of Cash Flows
- Chapter 6: Other Financial Statement Issues
-
Part 3: Specific Not-for-Profit Accounting Topics
- Chapter 7: Fund Accounting
-
Chapter 8: Net Assets
- Perspective and Issues
- Concepts, Rules, and Examples
- Unrestricted Net Assets
- Temporarily Restricted Net Assets
- Permanently Restricted Net Assets
- Changing Net Asset Classification Reported in a Prior Year
- Endowment Fund Reporting
- Financial Statement Presentation
- Disclosure Requirements
- ASU 2016-14 Changes to Net Asset Classifications and Endowments
-
Chapter 9: Contributions, Pledges, Noncash Contributions, and Exchange Transactions
- Perspective and Issues
- Concepts, Rules, and Examples
- Expendable Current Support
- Gifts-in-Kind
- Support Not Currently Expendable
- Exchange Transactions
- Costs to Obtain or Fulfil a Contract with a Customer
- Troubled Debt Restructurings—Creditors
- Appendix A Checklist
- Appendix B Checklist
- Appendix C Checklist
- Appendix D Checklist
- Appendix E Checklist
- Appendix F Checklist
- Appendix G Checklist
- Disclosure Requirements
-
Chapter 10: Investments
- Perspective and Issues
- Concepts, Rules, and Examples
- Reporting Realized Gains and Losses
- Fair Value Disclosures of Investments
- Investments in Certain Entities That Calculate Net Asset Value Per Share
- Liquidity Restrictions and Other Investment Disclosure Considerations
- Loans Acquired in a Transfer
- Donor-Restricted Endowment Funds
- Investment Income
- Alternative Investments
- Impairment of Equity Securities Reported at Cost
- Equity Method of Accounting
- Accounting Rules
- Equity Method Application
- Disclosure Requirements
- Investments
- Equity Method
- Chapter 11: Affiliated Organizations
- Chapter 12: Split-Interest Agreements
- Chapter 13: Fundraising and Joint Costs
- Chapter 14: Functional Reporting
- Chapter 15: Collections
-
Part 4: Other Accounting-Related Not-for-Profit Topics
- Chapter 16: Accounting for Specific Types of Not-for-Profits
- Chapter 17: Importance of Budgets to a Not-for-Profit
-
Chapter 18: Principal Federal and State Tax Reporting and Regulatory Requirements
- The Importance of Meeting Federal and State Reporting Requirements
- Organizations Exempt from Tax
- Charitable Organizations
- Private Foundations
- Private Operating Foundations
- Other Concerns for Charities
- Noncharitable Exempt Organizations
- Unrelated Business Income
- Registration and Reporting
- Reports by Recipients of Federal Support
- Principal Federal Tax Forms Filed
- Conclusion
- State Compliance Requirements
-
Part 5: General Accounting Topics Applied to Not-for-Profit Organizations
- Chapter 19: Current Assets and Current Liabilities
- Chapter 20: Inventory
- Chapter 21: Long-Lived Assets, Depreciation, and Impairment
- Chapter 22: Intangible Assets
- Chapter 23: Contingencies
- Chapter 24: Mergers and Acquisitions
- Chapter 25: Accounting for Pensions and Postretirement Benefits
-
Chapter 26: Long-Term Liabilities
- Perspective and Issues
- Concepts, Rules, and Examples
- Notes and Bonds
- Extinguishment of Debt
- Troubled Debt Restructurings
- FASB ASC 310-10 creditors.
- Accounting for Costs Associated with Exit Or Disposal Activites
- Scope
- Liability Recognition
- One-Time Termination Benefits
- Contract Termination Costs
- Statement of Activities Presentation
- Disclosures
- Environmental Remediation Liability
- Chapter 27: Accounting Changes
- Chapter 28: Accounting for Leases
- Chapter 29: Financial Instruments
- Chapter 30: Capitalization of Interest Costs
- Appendix: Disclosure Checklist
- Index
- End User License Agreement
Product information
- Title: Wiley Not-for-Profit GAAP 2017
- Author(s):
- Release date: July 2017
- Publisher(s): Wiley
- ISBN: 9781119385363
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