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Wiley Not-for-Profit GAAP 2017

Book Description

The essential not-for-profit GAAP reference, updated with the latest standards

Wiley Not-for-Profit GAAP 2017 is the essential accounting resource for not-for-profit organizations, providing quick access to the most up-to-date standards and practical tools for implementation. Designed help you find the answers you need quickly and easily, this guide features helpful visual aids alongside detailed explanations tailored to the not-for-profit sector. Authoritative discussion covers Financial Accounting Standards Board (FASB) Accounting Standards Codification, which includes the standards originally issued in the Statements, Interpretations and Technical Bulletins; Accounting Principles Board Opinions, Accounting Research Bulletins, AICPA Statements of Position and FASB Emerging Issues Task Force statements relevant to the not-for-profit organization.

The unique characteristics of the not-for-profit organization demand adherence to specific GAAP; auditors and preparers must understand these standards, stay up-to-date as they continue to evolve and know how to apply them in the course of real-world financial statement preparation. This book provides the guidance you need in a user-friendly format.

  • Get up to date on the latest changes to GAAP affecting not-for-profit organizations
  • Reference authoritative standards for measurement, presentation and disclosure
  • Consult flowcharts, diagrams and charts to find answers at a glance
  • Double-check disclosures against a checklist of GAAP requirements

Accounting standards are constantly changing, and the special requirements targeting not-for-profits add an additional challenge to full compliance. Instead of wading through dozens of volumes of official pronouncements to locate relevant information, consult an all-in-one resource targeted specifically to not-for-profit GAAP — one that is updated annually to bring you the most current information available. Wiley Not-for-Profit GAAP 2017 provides clear answers and practical guidance to help you streamline GAAP implementation and ensure compliance.

Table of Contents

  1. Cover
  2. Become a Subscriber!
  3. Title Page
  4. Copyright
  5. Preface
  6. About The Authors
  7. Not-for-Profit Accounting Literature
  8. Part 1: Overview of Not-for-Profit Organizations
    1. Chapter 1: Overview of Not-for-Profit Organizations
      1. Perspective and Issues
    2. Chapter 2: Cash versus Accrual-Basis Accounting
      1. Perspective and Issues
      2. Concepts, Rules, and Examples
      3. Legal Requirements
      4. Conclusion
  9. Part 2: Basic Financial Statements
    1. Chapter 3: Statement of Financial Position
      1. Perspective and Issues
      2. Concepts, Rules, and Examples
      3. Disclosure Requirements
    2. Chapter 4: Statement of Activities
      1. Perspective and Issues
      2. Concepts, Rules, and Examples
      3. Elements of the Change in Net Assets
      4. Classification of Revenues, Expenses, Gains and Losses, and Reclassifications
      5. Information about Gross Amounts of Revenues and Expenses
      6. Information about an Organization's Operations
      7. Information about an Organization's Service Efforts
      8. Financial Statement Presentation
      9. Disclosure Requirements
    3. Chapter 5: Statement of Cash Flows
      1. Perspective and Issues
      2. Concepts, Rules, and Examples
      3. Disclosure Requirements
    4. Chapter 6: Other Financial Statement Issues
      1. Comparative Financial Information
      2. Perspective and Issues
      3. Concepts, Rules, and Examples
      4. Disclosure Requirements
      5. Presenting Fund and Net Asset Information
      6. Interim Reporting
      7. Perspective and Issues
      8. Concepts, Rules, and Examples
      9. Disclosure Requirements
      10. Subsequent Events
      11. Public Entities
  10. Part 3: Specific Not-for-Profit Accounting Topics
    1. Chapter 7: Fund Accounting
      1. Perspective and Issues
      2. Concepts, Rules, and Examples
      3. Conclusion
    2. Chapter 8: Net Assets
      1. Perspective and Issues
      2. Concepts, Rules, and Examples
      3. Unrestricted Net Assets
      4. Temporarily Restricted Net Assets
      5. Permanently Restricted Net Assets
      6. Changing Net Asset Classification Reported in a Prior Year
      7. Endowment Fund Reporting
      8. Financial Statement Presentation
      9. Disclosure Requirements
      10. ASU 2016-14 Changes to Net Asset Classifications and Endowments
    3. Chapter 9: Contributions, Pledges, Noncash Contributions, and Exchange Transactions
      1. Perspective and Issues
      2. Concepts, Rules, and Examples
      3. Expendable Current Support
      4. Gifts-in-Kind
      5. Support Not Currently Expendable
      6. Exchange Transactions
      7. Costs to Obtain or Fulfil a Contract with a Customer
      8. Troubled Debt Restructurings—Creditors
      9. Appendix A Checklist
      10. Appendix B Checklist
      11. Appendix C Checklist
      12. Appendix D Checklist
      13. Appendix E Checklist
      14. Appendix F Checklist
      15. Appendix G Checklist
      16. Disclosure Requirements
    4. Chapter 10: Investments
      1. Perspective and Issues
      2. Concepts, Rules, and Examples
      3. Reporting Realized Gains and Losses
      4. Fair Value Disclosures of Investments
      5. Investments in Certain Entities That Calculate Net Asset Value Per Share
      6. Liquidity Restrictions and Other Investment Disclosure Considerations
      7. Loans Acquired in a Transfer
      8. Donor-Restricted Endowment Funds
      9. Investment Income
      10. Alternative Investments
      11. Impairment of Equity Securities Reported at Cost
      12. Equity Method of Accounting
      13. Accounting Rules
      14. Equity Method Application
      15. Disclosure Requirements
      16. Investments
      17. Equity Method
    5. Chapter 11: Affiliated Organizations
      1. Perspective and Issues
      2. Concepts, Rules, and Examples
      3. Reporting of Related Entities
      4. Concepts, Rules, and Examples
      5. Pass-Through Gifts
      6. Appendix A Checklist
    6. Chapter 12: Split-Interest Agreements
      1. Perspective and Issues
      2. Concepts, Rules, and Examples
      3. Disclosure Requirements
    7. Chapter 13: Fundraising and Joint Costs
      1. Perspective and Issues
      2. Concepts, Rules, and Examples
      3. Disclosure Requirements
      4. Appendix A Checklist
    8. Chapter 14: Functional Reporting
      1. Perspective and Issues
      2. Concepts, Rules, and Examples
      3. Disclosure Requirements
    9. Chapter 15: Collections
      1. Perspective and Issues
      2. Concepts, Rules, and Examples
      3. Disclosure Requirements
  11. Part 4: Other Accounting-Related Not-for-Profit Topics
    1. Chapter 16: Accounting for Specific Types of Not-for-Profits
      1. Perspective and Issues
      2. Associations and Professional Societies
      3. Churches
      4. Clubs
      5. Libraries
      6. Museums
      7. Performing Arts Organizations
      8. Private Foundations
      9. Religious Organizations Other Than Churches
      10. Research and Scientific Organizations
      11. Private Elementary and Secondary Schools
      12. Public Broadcasting Stations
    2. Chapter 17: Importance of Budgets to a Not-for-Profit
      1. Perspective and Issues
      2. Functions of the Budget
      3. Steps for Preparation
      4. Monthly and Quarterly Budgets
      5. Timely Interim Statements
      6. A Five-Year Master Plan
      7. Conclusion
    3. Chapter 18: Principal Federal and State Tax Reporting and Regulatory Requirements
      1. The Importance of Meeting Federal and State Reporting Requirements
      2. Organizations Exempt from Tax
      3. Charitable Organizations
      4. Private Foundations
      5. Private Operating Foundations
      6. Other Concerns for Charities
      7. Noncharitable Exempt Organizations
      8. Unrelated Business Income
      9. Registration and Reporting
      10. Reports by Recipients of Federal Support
      11. Principal Federal Tax Forms Filed
      12. Conclusion
      13. State Compliance Requirements
  12. Part 5: General Accounting Topics Applied to Not-for-Profit Organizations
    1. Chapter 19: Current Assets and Current Liabilities
      1. Perspective and Issues
      2. Concepts, Rules, and Examples
      3. Disclosure Requirements
    2. Chapter 20: Inventory
      1. Perspective and Issues
      2. Concepts, Rules, and Examples
      3. Disclosure Requirements
    3. Chapter 21: Long-Lived Assets, Depreciation, and Impairment
      1. Perspective and Issues
      2. Concepts, Rules, and Examples
      3. Disclosure Requirements
    4. Chapter 22: Intangible Assets
      1. Perspective and Issues
      2. Concepts, Rules, and Examples
      3. Disclosure Requirements
    5. Chapter 23: Contingencies
      1. Perspective and Issues
      2. Concepts, Rules, and Examples
      3. Accounting for Uncertainty in Income Taxes (FASB ASC 740-10)
      4. Disclosure Requirements
    6. Chapter 24: Mergers and Acquisitions
      1. Perspective and Issues
      2. Accounting for Mergers and Acquisitions of Not-for-Profit Organizations
      3. Conclusion
    7. Chapter 25: Accounting for Pensions and Postretirement Benefits
      1. Perspective and Issues
      2. Definitions of Terms
      3. Concepts, Rules, and Examples
      4. Accounting Requirements of FASB ASC 715-20
      5. Disclosure Requirements
    8. Chapter 26: Long-Term Liabilities
      1. Perspective and Issues
      2. Concepts, Rules, and Examples
      3. Notes and Bonds
      4. Extinguishment of Debt
      5. Troubled Debt Restructurings
      6. FASB ASC 310-10 creditors.
      7. Accounting for Costs Associated with Exit Or Disposal Activites
      8. Scope
      9. Liability Recognition
      10. One-Time Termination Benefits
      11. Contract Termination Costs
      12. Statement of Activities Presentation
      13. Disclosures
      14. Environmental Remediation Liability
    9. Chapter 27: Accounting Changes
      1. Perspective and Issues
    10. Chapter 28: Accounting for Leases
      1. Perspective and Issues
      2. Definitions of Terms
      3. Concepts, Rules, and Examples
      4. Disclosure Requirements
    11. Chapter 29: Financial Instruments
      1. Perspective and Issues
      2. Concepts, Rules, and Examples
    12. Chapter 30: Capitalization of Interest Costs
      1. Perspective and Issues
      2. Concepts, Rules, and Examples
      3. Disclosure Requirements
  13. Appendix: Disclosure Checklist
  14. Index
  15. End User License Agreement