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Financial and Accounting Guide for Not-for-Profit Organizations, 7th Edition

Financial and Accounting Guide for Not-for-Profit Organizations, 7th Edition

Malvern J. Gross, John H. McCarthy, Nancy E. Shelmon

ISBN: 978-0-471-73814-5

May 2005

896 pages

Select type: E-Book

$180.99

Description

This Seventh Edition is filled with authoritative advice on the financial reporting, accounting, and control situations unique to not-for-profit organizations. It contains discussions of the accounting and reporting guidelines for different types of organizations, complete guidance on tax and compliance reporting requirements, illustrated explanations of various types of acceptable financial statements, and much more!

Chapter 1 Responsibilities for Fiscal Management 1

PART ONE KEY FINANCIAL CONCEPTS 13

Chapter 2 Accounting Distinctions between Not-for-Profit and Commercial Organizations 15

Chapter 3 Cash- versus Accrual-Basis Accounting 23

Chapter 4 Fund Accounting and Internal Financial Reporting 33

Chapter 5 Fixed Assets and Depreciation 49

Chapter 6 Investment Income, Gains and Losses, and Endowment Funds 61

Chapter 7 Affiliated Organizations, Pass-Through Transactions, and Mergers 79

Chapter 8 Contributions, Pledges, and Noncash Contributions 101

Chapter 9 Accounting Issues Relating to Fundraising 139

PART TWO FINANCIAL STATEMENT PRESENTATION 155

Chapter 10 Cash-Basis Financial Statements 157

Chapter 11 Accrual-Basis Financial Statements 169

Chapter 12 Multiclass Financial Statements 181

PART THREE ACCOUNTING AND REPORTING GUIDELINES 229

Chapter 13 Voluntary Health and Welfare Organizations 231

Chapter 14 Colleges and Universities 263

Chapter 15 The External Financial Statement Reporting Model for Public Colleges and Universities and Other Not-for-Profit Organizations Reporting under the GASB 273

Chapter 16 Health Care Providers 301

Chapter 17 Accounting Standards for Other Not-for-Profit Organizations 343

Chapter 18 Special Accounting Issues for Specific Organizations 355

Chapter 19 The Financial Accounting Standards Board and Future Trends in Not-for-Profit Accounting 373

PART FOUR CONTROLLING THE NOT-FOR-PROFIT ORGANIZATION 393

Chapter 20 The Importance of Budgeting 395

Chapter 21 Avoiding Bankruptcy 419

Chapter 22 Small Organizations—Obtaining the Right Accountant 435

Chapter 23 Small Organizations—Providing Internal Control 443

Chapter 24 Effective Internal Accounting Control for Not-for-Profit Organizations 455

Chapter 25 Independent Audits 483

Chapter 26 Investments 511

PART FIVE PRINCIPAL FEDERAL TAX AND COMPLIANCE REQUIREMENTS 527

Chapter 27 E-Business for Not-for-Profit Organizations: How Can Not-for-Profits Manage the Risks to Maximize E-Business Opportunities? 529

Chapter 28 Principal Tax Requirements 565

Chapter 29 Audits of Federally Funded Programs 617

PART SIX SETTING UP AND KEEPING THE BOOKS 631

Chapter 30 Cash-Basis Bookkeeping 633

Chapter 31 Simplified Accrual-Basis Bookkeeping 651

Chapter 32 Full Accrual-Basis Bookkeeping 671

Chapter 33 Fund Accounting Bookkeeping 689

Chapter 34 Automating the Accounting Records 703

Appendix A Accounting and Disclosure Guide for Not-for-Profit Organizations 717

Appendix B Code of Conduct 729

Appendix C Basic Template for an Audit Committee Charter 741

Index 749