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Not-for-Profit Accounting Made Easy, 2nd Edition

Not-for-Profit Accounting Made Easy, 2nd Edition

Warren Ruppel

ISBN: 978-1-118-04082-9

Dec 2010

256 pages



A hands-on guide to the ins and outs of nonprofit accounting

Not-for-Profit Accounting Made Easy, Second Edition equips you with the tools you need to run the financial and accounting operations within your nonprofit organization. Even if you do not have a professional understanding of accounting principles and financial reporting, this handy guide makes it all clear with complex accounting rules explained in terms nonaccountants can easily understand in order to help you better fulfill your managerial and fiduciary duties. Always practical and never overtechnical, this helpful guide conforms to FASB and AICPA standards and:

Discusses federal single audit and its impact on nonprofits

Offers examples of various types of split-interest agreements

Shows you how to read and understand a nonprofit financial statement

Explains financial accounting and reporting standards

Helps you become conversant in the rules and principles of accounting

Updates board members, executive directors, and other senior managers on the accounting basics they should know for day-to-day operations

Features tables, exhibits, and charts that illustrate the content in a simple and easy-to-understand manner

Suitable for fundraising managers and executives--as well as anyone who needs to read and understand a nonprofit financial statement--this is the ultimate not-an-accountant's guide to nonprofit accounting.

Chapter 1. Understanding the Basics of Not-for-Profit Accounting.

Chapter 2. Basic Financial Statements of a Not-for-Profit Organization.

Chapter 3. Accounting for Contributions.

Chapter 4. Accounting for Investments and Financial Instruments.

Chapter 5. Accounting for Activities with Joint Costs and Indirect Cost Allocation.

Chapter 6. Affiliated Organizations.

Chapter 7. Collections.

Chapter 8. Split Interest Agreements.

Chapter 9. Accounting for Pension and Other Post employment Employee Benefit Plans.

Chapter 10. Lease Accounting Fundamentals.

Chapter 11. Analyzing the Financial Health of Not-for-Profit Organizations.

Chapter 12. Current Developments in Not-for-Profit GAAP.

  • NEW: Updated GAAP hierarchy discussion includes PCAOB and its impact on standards setting and applicability to not-for-profit organizations
  • NEW: Discussion of federal single audit and its impact on not-for-profits
  • NEW: Examples of various types of split-interest agreements
  • Includes description of the applicable FASB and other pronouncements issued over the last four years
  • Updated status of FASB project on consolidations
  • Derivatives covered in easy-to-understand language
  • Updated pension and lease accounting in simplified language and discussion
  • Updated coverage of asset and liability accounts for new FASB statement, including fixed assets and inventory