Full Description
Detailed, practical coverage of GAAP, tailored to not-for-profit organizations Wiley Not-for-Profit GAAP 2016 is a thorough examination of the authoritative standards for measurement, presentation and disclosure as applied to not-for-profit organizations. Due to these organizations' unique characteristics, not-for-profit accountants must adhere to specific Generally Accepted Accounting Principles (GAAP). These requirements are complex and ever evolving, but this single volume brings them together, providing the most up-to-date information available. Flowcharts and diagrams are used to assist the reader's understanding of the material. Additionally, a financial statement disclosure checklist facilitates GAAP adherence. Designed specifically for accountants in public practice and industry, this guide covers requirements from all relevant organizations, including the Financial Accounting Standards Board (FASB) and Accounting Principles Board (APB). Technical and accounting research bulletins are clearly and concisely summarized, as are all statements of position important to not-for-profit organizations.
Together, these resources make Wiley Not-for-Profit GAAP 2016 a complete reference tool for auditors and financial personnel in the not-for-profit sector. * Refine basic financial statements, including Financial Position, Activities and Cash Flow * Tackle not-for-profit-specific issues like fundraising, noncash contributions, affiliations and pledges * Tailor accounting methods to the specific type of organization, with budgeting, tax reporting and regulatory advice * Discover how general accounting topics like assets, mergers and liabilities are applied to not-for-profit organizations Preparers and auditors of not-for-profit accounts must stay up-to-date on the latest GAAP practices to best serve the organization, while complying with all disclosure, reporting and regulatory requirements. Wiley Not-for-Profit GAAP 2016 provides extensive coverage and practical advice on the latest GAAP, tailored to the not-for-profit organization's unique needs.
Contents
Preface vii About The Authors ix Not-for-Profit Accounting Literature xi Part 1 Overview of Not-for-Profit Organizations 1 Chapter 1 Overview of Not-for-Profit Organizations 3 Chapter 2 Cash Versus Accrual Basis Accounting 11 Part 2 Basic Financial Statements 21 Chapter 3 Statement of Financial Position 23 Chapter 4 Statement of Activities 31 Chapter 5 Statement of Cash Flows 41 Chapter 6 Other Financial Statement Issues 55 Part 3 Specific Not-for-Profit Accounting Topics 73 Chapter 7 Fund Accounting 75 Chapter 8 Net Assets 87 Chapter 9 Contributions, Pledges, Noncash Contributions, and Exchange Transactions 95 Chapter 10 Investments 139 Chapter 11 Affiliated Organizations 159 Chapter 12 Split-Interest Agreements 179 Chapter 13 Fundraising and Joint Costs 189 Chapter 14 Functional Reporting 203 Chapter 15 Collections 209 Part 4 Other Accounting-Related Not-for-Profit Topics 213 Chapter 16 Accounting for Specific Types of Not-for-Profits 215 Chapter 17 Importance of Budgets to a Not-for-Profit 229 Chapter 18 Principal Federal and State Tax Reporting and Regulatory Requirements 247 Part 5 General Accounting Topics Applied to Not-for-Profit Organizations 305 Chapter 19 Current Assets and Current Liabilities 307 Chapter 20 Inventory 315 Chapter 21 Long-Lived Assets, Depreciation, and Impairment 323 Chapter 22 Intangible Assets 335 Chapter 23 Contingencies 343 Chapter 24 Mergers and Acquisitions 359 Chapter 25 Accounting for Pensions and Postretirement Benefits 375 Chapter 26 Long-Term Liabilities 411 Chapter 27 Accounting Changes 429 Chapter 28 Accounting for Leases 435 Chapter 29 Financial Instruments 469 Chapter 30 Capitalization of Interest Costs 481 Appendix: Disclosure Checklist 487 Index 517
