Wiley Not-for-Profit GAAP 2015: Interpretation and Application of Generally Accepted Accounting Principles

16 ACCOUNTING FOR SPECIFIC TYPES OF NOT-FOR-PROFITS

Perspective and Issues

ASSOCIATIONS AND PROFESSIONAL SOCIETIES

Reporting on a Functional Basis

Reporting of Sections or Groups

Use of Appropriation Accounting

Separate Charitable Organizations

CHURCHES

Cash Basis Accounting

Fixed Assets and Depreciation

Adequacy of the Bookkeeping Staff

CLUBS

Capital Shares and Initiation Fees

Capital shares

Initiation fee

Fixed Asset Accounting

Unrelated Business Income

LIBRARIES

Recording a Value for Books

MUSEUMS

Valuing the Collection as an Asset

Fixed Asset Accounting

Contributed Facilities

PERFORMING ARTS ORGANIZATIONS

Recognition of Expenses

Recognition of Ticket Revenue

Recording Costumes and Stage Scenery as Fixed Assets

Financial Statement Presentation

PRIVATE FOUNDATIONS

Timing of Recording Liability for Grants Awarded to Others

Rationale

Community Foundations

RELIGIOUS ORGANIZATIONS OTHER THAN CHURCHES

Combined Financial Statements

Allocations from Other Organizations

RESEARCH AND SCIENTIFIC ORGANIZATIONS

Timing of Recording Contract Revenue

Recording Future Grant Awards

PRIVATE ELEMENTARY AND SECONDARY SCHOOLS

Depreciation Accounting

Accounting Manual

PUBLIC BROADCASTING STATIONS

Other Accounting Guidance

Grants Received/Program Underwriting

Donated Services of Volunteers

Program Production Costs

Fixed Assets

Member Dues/Pledges

PERSPECTIVE AND ISSUES

This chapter discusses some of the specialized accounting and reporting problems of several specific types of different not-for-profit ...