Nonprofit Finance: A Practical Guide

Nonprofit Finance: A Practical Guide
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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



This publication provides a detailed overview of the major nonprofit areas for persons interested in the financial operations of an organization, such as financial statements, accounting, grant management, internal controls and tax issues.

                I recommend this publication as a useful, practical resource for any new controller, manager, board member, or CFO working in the nonprofit sector. Maybe you have questions regarding operations or specific accounting issues, such as:

·         Is the nonprofit tax-exempt?

·         What are “funds” or “net assets”?

·         What is a “release of net assets”?

·         What is a Statement of Position?

·         What is a Statement of Activities?

This course answers these questions and others you may have in the back of your mind regarding the nonprofit sector. Some chapters are more technical than others are, so if you’re not accounting-oriented, you may still understand the concepts as terms and vocabulary are explained with numerous examples to clarify typical nonprofit models of operation, taxes, and financial reporting.

Samples of letters, forms, and reports pertinent to the nonprofit world are presented along with vignettes of my own experiences and recommendations, giving this material a different perspective from a purely academic or technical approach.

Each chapter covers an important topic within the nonprofit world, combining theory and practical information to make the issues clear and straightforward to understand.

Upcoming changes to financial statements are covered here including significant aspects of FASB ASU 2016-14 Presentation of Financial Statements of Not-for-Profit Entities. We also review ASU 2014-09 Revenue from Contracts with Customers and ASU 2016-02 Leases.

The publication is based on the IRS, Financial Accounting Standards Board (FASB), and other government publications, including the “Super Circular,” a federal grant guide. Please note that, like everything in life, things change, and you must keep up with the updates in the law and accounting regulations that come along, not yet picked up by this publication. 

I hope you find this publication an informative and valuable resource to better understand and appreciate the nonprofit sector.

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