CPA FAR USGAAP Not For Profit Entities-Financial Statements

Financial Reporting Essentials for Non-Governmental, Not-for-Profit Entities.

(CPA FAR USGAAP)

Are you ready to master financial reporting for non-governmental, not-for-profit organizations? This comprehensive course is designed to equip you with a thorough understanding of Accounting Standards Codifications (ASC) relevant to not-for-profit entities, ensuring you can confidently prepare, analyze, and present financial statements that meet professional standards.

What You’ll Learn:

• Understand Accounting Standards Codifications (ASC): Gain clarity on the U.S. GAAP framework and its application to not-for-profit entities.
• Deep Dive into ASC 958: Explore guidelines specific to not-for-profit organizations, including classification of net assets, contributions, and revenue recognition.
• Financial Statement Preparation: Learn the intricacies of the Balance Sheet (ASC 210), Income Statement (ASC 220), and Statement of Cash Flows (ASC 230).
• Notes to Financial Statements (ASC 235): Understand the importance of detailed disclosures, including accounting policies and related party transactions.
• Consolidation and Reporting (ASC 810): Explore the rules governing the consolidation of financial statements.

Course Highlights:

This course takes you step-by-step through the essentials of financial reporting for non-governmental, not-for-profit entities. Key modules include:

1. Overview of ASC Standards: A foundation for understanding ASC 958, ASC 205, ASC 210, ASC 220, ASC 230, ASC 235, and ASC 810.
2. Statements of Financial Position and Activities: Dive deep into ASC 210 and ASC 220 to prepare accurate and comprehensive reports.
3. Crafting the Statement of Cash Flows (ASC 230): Gain insights into the presentation of cash inflows and outflows.
4. Notes to Financial Statements: Learn how to disclose critical details under ASC 235, including revenue breakdowns and net assets classifications.

Who Should Take This Course?

This course is ideal for accounting professionals, finance students, and non-profit organization staff who want to enhance their financial reporting skills. Whether you’re new to non-profit financial management or looking to refine your expertise, this course will provide the knowledge and tools you need.