Full Description
The essential not-for-profit GAAP reference, updated with the latest standardsWiley Not-for-Profit GAAP 2019 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 organizationsReference authoritative standards for measurement, presentation and disclosureConsult flowcharts, diagrams and charts to find answers at a glanceDouble-check disclosures against a checklist of GAAP requirementsAccounting 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 2019 provides clear answers and practical guidance to help you streamline GAAP implementation and ensure compliance.
Contents
Preface viiAbout the Authors ixNot-for-Profit Accounting Literature xiPart 1 Overview of Not-for-Profit Organizations 1Chapter 1 Overview of Not-for-Profit Organizations 3Chapter 2 Cash versus Accrual-Basis Accounting 11Part 2 Basic Financial Statements 21Chapter 3 Statement of Financial Position 23Chapter 4 Statement of Activities 33Chapter 5 Statement of Cash Flows 43Chapter 6 Other Financial Statement Issues 59Part 3 Specific Not-for-Profit Accounting Topics 77Chapter 7 Fund Accounting 79Chapter 8 Net Assets 91Chapter 9 Contributions, Pledges, Noncash Contributions, and Exchange Transactions 101Chapter 10 Investments 149Chapter 11 Affiliated Organizations 169Chapter 12 Split-Interest Agreements 191Chapter 13 Fundraising and Joint Costs 201Chapter 14 Functional Reporting 215Chapter 15 Collections 221Part 4 Other Accounting-Related Not-for-Profit Topics 225Chapter 16 Accounting for Specific Types of Not-for-Profits 227Chapter 17 Importance of Budgets to a Not-for-Profit 241Chapter 18 Principal Federal and State Tax Reporting and Regulatory Requirements 259Part 5 General Accounting Topics Applied to Not-for-Profit Organizations 321Chapter 19 Current Assets and Current Liabilities 323Chapter 20 Inventory 331Chapter 21 Long-Lived Assets, Depreciation, and Impairment 339Chapter 22 Intangible Assets 351Chapter 23 Contingencies 359Chapter 24 Mergers and Acquisitions 375Chapter 25 Accounting for Pensions and Postretirement Benefits 391Chapter 26 Long-Term Liabilities 429Chapter 27 Accounting Changes 447Chapter 28 Accounting for Leases 453Chapter 29 Financial Instruments 491Chapter 30 Capitalization of Interest Costs 503Appendix: Disclosure Checklist 509Index 539
