The Simplified Guide to Not-for-Profit Accounting, Formation and Reporting
Providing you with a comprehensive understanding of how to maintain the "books" of a typical nonprofit entity and comply with numerous reporting requirements, The Simplified Guide to Not-for-Profit Accounting, Formation & Reporting equips you with everything you need to know to form a Not-For-Profit, setup an accounting system, record financial transactions and report to donors and regulatory bodies.
Step-by-step guide to forming a Not-For-Profit and applying for tax exemption
Becoming familiar with unique Not-For-Profit accounting rules such as classifying contributions/grants and recording restrictions, allocation of expenses to programs and supporting services and investment classification and reporting
Budget development, payroll processing and accounting for personnel costs
Shows how to prepare and understand required Not-For-Profit financial statement and their components
Provides you with a broad understanding of the numerous filing requirement required by donors, grantors and government regulatory agencies
Practical and comprehensive in scope, The Simplified Guide to Not-for-Profit Accounting, Formation & Reporting offers a wealth of practical information to accountants and non-accountants alike for understanding Not-For-Profit financial transactions, financial statements and the many internal and external reports they must prepare.
CHAPTER 1 INTRODUCTION.
CHAPTER 2 NFP ORGANIZATION FORMATION.
CHAPTER3 NFP ORGANIZATIONAL STRUCTURE.
CHAPTER 4 INTRODUCTION TO NFP ACCOUNTING AND REPORTING.
CHAPTER 5 NFP ACCOUNTING SYSTEM AND FINANCIAL STATEMENTS.
CHAPTER 6 ASSETS — CONCEPTS AND DATA FLOW.
CHAPTER 7 LIABILITIES AND NET ASSETS —CONCEPTS AND DATA FLOW.
CHAPTER 8 ACCOUNTING FOR SUPPORT AND REVENUE.
CHAPTER 9 ACCOUNTING FOR PERSONNEL COSTS AND OTHER EXPENSES.
CHAPTER 10 INVESTMENTS, POOLING AND SPLIT-INTEREST AGREEMENTS.
CHAPTER 11 SUBSIDIARIES AND INTERRELATED ENTITIES.
CHAPTER 12 BUDGET DEVELOPMENT AND APPLICATIONS.
CHAPTER 13 SPECIAL TYPES OF NFP ORGANIZATIONS.
CHAPTER 14 REGULATORY REPORTING (990, 990-T AND 990-PF).
CHAPTER 15 CONTRIBUTION/GRANT APPLICATIONS AND REPORTING.
CHAPTER 16 AUDITS – PREPARATION AND RESPONSE.
CHAPTER 17 CONCLUSION.
APPENDIX A TAX-EXEMPT ORGANIZATION REFERENCE CHART.
APPENDIX B SAMPLE NFP CHART OF ACCOUNTS.
APPENDIX C ABBREVIATIONS
About the Author.
LAURENCE SCOT is the cofounder and comanaging partner of Skody Scot & Company, a midtown CPA firm formed in 1990 that specializes in servicing the Not-for-Profit community. Scot has taught undergraduate and graduate classes at several colleges; been lecturing and giving seminars to CPAs, bankers, NFP D&Os (directors and officers), managers, and entrepreneurs for over twenty years on a variety of subjects; and is the creator of the first in-class certificate program in Not-for-Profit accounting and governmental reporting.
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