About this product

Product Identifiers

PublisherWiley & Sons, Incorporated, John

ISBN-10111897669X

ISBN-139781118976692

eBay Product ID (ePID)14038848577

Product Key Features

Number of Pages272 Pages

LanguageEnglish

Publication NameHow to Read Nonprofit Financial Statements : a Practical Guide

Publication Year2017

SubjectAccounting / Financial, Nonprofit Organizations & Charities / Finance & Accounting, Nonprofit Organizations & Charities / General

TypeTextbook

AuthorLee Klumpp, William D. Eisig, Andrew S. Lang, Tammy Ricciardella

Subject AreaBusiness & Economics

FormatTrade Paperback

Dimensions

Item Height0.9 in

Item Weight14.4 Oz

Item Length9.9 in

Item Width6.9 in

Additional Product Features

Edition Number3

Intended AudienceScholarly & Professional

LCCN2016-055393

IllustratedYes

Table Of ContentPreface vii Learning Objectives ix Introduction xi Chapter 1 Why You Need to Understand the Update to the Nonprofit Reporting Model 1 Chapter 2 Why Update the Nonprofit Reporting Model? 3 Chapter 3 Highlights of the Major Changes to the Nonprofit Reporting Model 5 Chapter 4 What Is the Purpose of Financial Statements? 11 Chapter 5 Types of Financial Statements 13 Chapter 6 How to Read a Nonprofit Financial Statement 15 Chapter 7 Statement of Financial Position 17 Chapter 8 Statement of Activities 19 Chapter 9 Statement of Cash Flows 23 Chapter 10 Statement of Functional Expenses 25 Chapter 11 Footnotes to Financial Statements 27 Chapter 12 Internal versus External (Audited) Financial Statements 29 Chapter 13 The Independent Auditor's Report 31 Chapter 14 Other Types of Auditor Opinions 35 Chapter 15 Supplemental Information 37 Chapter 16 Reserves 39 Chapter 17 Financial Statement Exercises 43 Chapter 18 Example Set 1 45 Chapter 19 Example Set 2 101 Chapter 20 Example Set 3 157 Chapter 21 Financial Analysis 223 Chapter 22 Benchmarking 227 Chapter 23 Increasing Complexity in Nonprofit Financial Reporting 231 Chapter 24 Nonprofits Subject to Government Auditing Standards and a Single Audit under the Uniform Guidance 235 Glossary Prior to Effective Date of ASU 2016-14 241 Glossary Amendments Made upon Adoption of ASU 2016-14 247 About the Authors 251 Index 255

SynopsisEXPERT GUIDANCE ON HOW TO READ, INTERPRET, AND USE NONPROFIT FINANCIAL STATEMENTS--UPDATED TO INCLUDE THE NEW FASB STANDARD FOR NONPROFIT FINANCIAL REPORTING Whether you're a nonprofit executive unfamiliar with the language of financial statements or a seasoned pro, this book is the only guide you'll need to correctly interpret those critical documents, refresh your skills and familiarize yourself with the new FASB nonprofit reporting standards. The intent behind the recent FASB accounting standards update was to improve the clarity and usefulness of nonprofit financial statements. But making sense of those statements can still be tough for the uninitiated. Accountants and non-accountants who use and prepare nonprofit financial statements need guidance on how to interpret and implement these new FASB standards. Written for both audiences, this book: Clearly defines accounting terminology and concepts, while offering numerous examples of financial statements reflecting both the old and new FASB standards Steers you, line-by-line, through financial reports, providing in-depth explanations of the differences between the old and new standards Provides numerous illustrations to help you quickly feel at home with the format of nonprofit financial statements Offers exercises to help you gain insight into the core concepts of nonprofit financial statements and reinforce your command of those concepts In addition to the new FASB standards, this expanded edition includes: A new chapter on reserves, a long-standing challenge for nonprofits A new section on general financial analysis, outlining what financial statement readers should look for to stay informed and satisfy their responsibility regardless of their role A new chapter on benchmarking to help nonprofits measure performance against industry peers How to Read Nonprofit Financial Statements, Third Edition is an invaluable resource for anyone who reads, interprets, or prepares these all-important documents., EXPERT GUIDANCE ON HOW TO READ, INTERPRET, AND USE NONPROFIT FINANCIAL STATEMENTS UPDATED FOR THE NEW FASB STANDARD RELATED TO NONPROFIT FINANCIAL REPORTING (ASU 2016-14) If you're an executive or volunteer leader at a nonprofit who is unfamiliar with the formats and language of financial statements, this book fills you in on how to read and correctly interpret those critical documents. If you're a seasoned pro who wants to brush up on your skills while familiarizing yourself with the latest FASB nonprofit reporting standards, this is the only guide you need. The intent behind creating the ASU 2016-14 was to improve the clarity and usefulness of nonprofit financial statements, but making sense of those statements can still be tough going for the uninitiated. Accountants and non-accountants alike who use and prepare nonprofit financial statements need guidance on how to interpret and implement the new FASB standard. Written for both audiences, this book: Clearly defines accounting terminology and concepts, while offering numerous examples of financial statements reflecting both the old and new FASB standards Steers you, line-by-line, through financial reports, providing explanations of differences between the old and new standards Provides numerous illustrations that help you quickly feel at home with the format of nonprofit financial statements Offers exercises that help you gain insight into the concepts surrounding nonprofit financial statements and reinforce your command of those concepts How to Read Nonprofit Financial Statements, Third Edition is an invaluable resource for everyone who reads, interprets, or prepares those all-important documents., Clear guidance with coverage of the new changes to the FASB standards How to Read Nonprofit Financial Statements clarifies FASB standards to help you quickly and easily understand the nonprofit's most important document.

LC Classification NumberHF5686.N56L36 2017