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

Appendix Disclosure Checklist

This disclosure checklist has been prepared using the accounting and financial reporting guidance contained in pronouncements up to and including FASB Accounting Standards Updates No. 2014-12. This checklist has been prepared with careful consideration to ensure its accuracy and completeness. However, a checklist does not substitute for professional knowledge and judgment. In addition, this checklist focuses primarily on footnote disclosures for financial statements. For requirements as to the content and format of financial statements themselves, readers should refer to the applicable chapters of this guide. Financial statement preparers and auditors using this checklist should recognize their responsibility to determine the adequacy of disclosures for financial statements. Accordingly, this checklist should be used only as one tool in meeting these responsibilities.

A. Summary of Significant Accounting Policies
1. Does a note to the financial statements contain a summary of significant accounting policies?	_____
2. If the organization prepared its financial statements on a comprehensive basis of accounting other than generally accepted accounting principles (GAAP), was disclosure made of the basis of presentation and how that basis differs from GAAP? (FASB ASC 835-20-55)	_____
3. Does disclosure of significant accounting policies encompass important judgments as to appropriateness of principles concerning recognition of revenue, ...