- NY Credits : 7.0
- TX Credits : 7.0
This interactive self-study course discusses two aspects of preparing financial statements for nonprofit organizations. Lesson 1 takes a look at the notes that should be included in a nonprofit organization’s financial statements. Lesson 2 discusses special purpose frameworks, such as the cash and tax bases, and how they might affect the financial statements of a nonprofit organization.
Course Expiration Date: May 31, 2020
Please note, the grading fee for answer sheets submitted by regular mail is $105.
Identify the appropriate presentation for a nonprofit organization’s financial statement notes, how to determine necessary disclosures, and how to address the summary of significant accounting policies.
Determine the best way to deal with common problems that arise when preparing frequent disclosures for the notes in a nonprofit organization’s financial statements.
Determine the best way to address common problems related to general disclosures and other disclosures that appear in a nonprofit organization’s financial statement notes.
Recognize how to approach the disclosure of information about financial instruments
Determine when a nonprofit organization might use a special purpose framework and what form the financial statements might take.
Identify specific considerations that apply when nonprofit organizations use the pure cash basis, the modified cash basis, and the tax basis, as well as how to deal with accounting changes.
Lesson 1—Notes to the Financial Statements
Lesson 2—Special Purpose Frameworks