Nonprofits Operations and Accounting - An Overview

Nonprofits Operations and Accounting - An Overview
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Price: $129.00
Credits: 12
Prerequisite: None
Level: Overview
Model: SS02
Author: Sheila Shanker
Average Rating: Not Rated
Fields of study: Accounting (Governmental)
Format: PDF


Additional Contents : Complete, no additional material needed
Advance Preparation : None
Intended Participants :
Any CPA looking to maintain or enhance their professional competence

Course Declaration : Participants must complete the final examination within one year of purchase. A minimum passing grade of 70% or better is required to receive CPE
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“Nonprofits Operations and Accounting - An Overview” is intended for:

  • CPAs, accountants, and other professionals who want to obtain a general idea of the nonprofit sector.
  • Students and others with a basic knowledge of business and accounting who want to learn more about the subject.
  • Businesses, nonprofits, and educational organizations conducting training programs.

 The course is easy to follow and should assist the reader in gaining a basic knowledge of nonprofit organizations’ operations and accounting.  This is NOT a course about basic accounting principles or concepts.

Chapter 1
WHAT IS A NONPROFIT ORGANIZATION?

After reading this chapter, you should be able to:

• Explain what a nonprofit organization is
• Outline the steps for nonprofit status
• List the three main operational areas of a nonprofit organization
• Categorize nonprofit processes by areas

Chapter 2
ACCOUNTING FOR NONPROFIT-BASICS

After reading this chapter, you should be able to:

• Explain and evaluate cash versus accrual basis of accounting
• Define fund/net asset
• List the main fund/net assets types
• Classify transactions among the basic funds/net assets
• Identify “Release of net assets” accounts and explain usage

Chapter 3
REVENUE

After reading this chapter, you should be able to:

• List the types of revenues
• Explain the requirements for revenue to be classified as unrestricted, temporarily restricted, or permanently restricted
• Explain how to account for pledges
• Identify fundraising activities and explain how to book it
• Identify and book in-kind contributions and museum pieces

Chapter 4
GOVERNMENT GRANTS

After reading this chapter, you should be able to:

• List the main circulars governing grants with basic information about each
• Explain essential grant management topics
• Identify direct and indirect costs
• Explain the basics of a cost allocation plan

Chapter 5
NONPROFIT FINANCIAL STATEMENTS

After reading this chapter, you should be able to:

• List the main financial statements of a nonprofit
• Identify the function of each financial statement
• Identify the basic formula behind each statement
• List basic accounts presented in each financial statement

Chapter 6
TAXATION OF NONPROFIT ORGANIZATIONS

After reading this chapter, you should be able to:

• Explain basic tax returns of nonprofits
• Explain basic sales and payroll tax issues of nonprofits

Chapter 7
INTERNAL CONTROLS FOR NONPROFITS

After reading this chapter, you should be able to:

• Explain basic internal control topics

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