Wiley Not-for-Profit GAAP 2019

Wiley Not-for-Profit GAAP 2019

by Richard F. Larkin, Marie DiTommaso
Released September 2019
Publisher(s): Wiley
ISBN: 9781119511656

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Book description

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

Wiley Not-for-Profit GAAP 2019 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 2019 provides clear answers and practical guidance to help you streamline GAAP implementation and ensure compliance.

 

Table of contents

  1. COVER
  2. PREFACE
  3. ABOUT THE AUTHORS
  4. NOT - FOR - PROFIT ACCOUNTING LITERATURE
  5. PART 1: OVERVIEW OF NOT-FOR-PROFIT ORGANIZATIONS
    1. 1 OVERVIEW OF NOT-FOR-PROFIT ORGANIZATIONS
      1. PERSPECTIVE AND ISSUES
    2. 2 CASH VERSUS ACCRUAL-BASIS ACCOUNTING
      1. PERSPECTIVE AND ISSUES
      2. CONCEPTS, RULES, AND EXAMPLES
      3. LEGAL REQUIREMENTS
      4. CONCLUSION
  6. PART 2: BASIC FINANCIAL STATEMENTS
    1. 3 STATEMENT OF FINANCIAL POSITION
      1. PERSPECTIVE AND ISSUES
      2. CONCEPTS, RULES, AND EXAMPLES
      3. DISCLOSURE REQUIREMENTS
    2. 4 STATEMENT OF ACTIVITIES
      1. PERSPECTIVE AND ISSUES
      2. CONCEPTS, RULES, AND EXAMPLES
      3. FINANCIAL STATEMENT PRESENTATION
      4. DISCLOSURE REQUIREMENTS
    3. 5 STATEMENT OF CASH FLOWS
      1. PERSPECTIVE AND ISSUES
      2. CONCEPTS, RULES, AND EXAMPLES
      3. DISCLOSURE REQUIREMENTS
    4. 6 OTHER FINANCIAL STATEMENT ISSUES
      1. COMPARATIVE FINANCIAL INFORMATION
      2. PRESENTING FUND AND NET ASSET INFORMATION
      3. INTERIM REPORTING
  7. PART 3: SPECIFIC NOT-FOR-PROFIT ACCOUNTING TOPICS
    1. 7 FUND ACCOUNTING
      1. PERSPECTIVE AND ISSUES
      2. CONCEPTS, RULES, AND EXAMPLES
      3. CONCLUSION
      4. NOTES
    2. 8 NET ASSETS
      1. PERSPECTIVE AND ISSUES
      2. CONCEPTS, RULES, AND EXAMPLES
      3. DISCLOSURE REQUIREMENTS
    3. 9 CONTRIBUTIONS, PLEDGES, NONCASH CONTRIBUTIONS, AND EXCHANGE TRANSACTIONS
      1. PERSPECTIVE AND ISSUES
      2. CONCEPTS, RULES, AND EXAMPLES
      3. SUMMARY OF REVENUE RECOGNITION REQUIREMENTS UNDER ASU 2014-09
      4. APPENDIX A CHECKLIST
      5. APPENDIX B CHECKLIST
      6. APPENDIX C CHECKLIST
      7. APPENDIX D CHECKLIST
      8. APPENDIX E CHECKLIST
      9. APPENDIX F CHECKLIST
      10. APPENDIX G CHECKLIST
      11. DISCLOSURE REQUIREMENTS
      12. NOTES
    4. 10 INVESTMENTS
      1. PERSPECTIVE AND ISSUES
      2. CONCEPTS, RULES, AND EXAMPLES
      3. DISCLOSURE REQUIREMENTS
    5. 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. 12 SPLIT-INTEREST AGREEMENTS
      1. PERSPECTIVE AND ISSUES
      2. CONCEPTS, RULES, AND EXAMPLES
      3. DISCLOSURE REQUIREMENTS
    7. 13 FUNDRAISING AND JOINT COSTS
      1. PERSPECTIVE AND ISSUES
      2. CONCEPTS, RULES, AND EXAMPLES
      3. DISCLOSURE REQUIREMENTS
      4. APPENDIX A CHECKLIST
    8. 14 FUNCTIONAL REPORTING
      1. PERSPECTIVE AND ISSUES
      2. CONCEPTS, RULES, AND EXAMPLES
      3. DISCLOSURE REQUIREMENTS
    9. 15 COLLECTIONS
      1. PERSPECTIVE AND ISSUES
      2. CONCEPTS, RULES, AND EXAMPLES
      3. DISCLOSURE REQUIREMENTS
  8. PART 4: OTHER ACCOUNTING-RELATED NOT-FOR-PROFIT TOPICS
    1. 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. 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. 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
      14. NOTES
  9. PART 5: GENERAL ACCOUNTING TOPICS APPLIED TO NOT-FOR-PROFIT ORGANIZATIONS
    1. 19 CURRENT ASSETS AND CURRENT LIABILITIES
      1. PERSPECTIVE AND ISSUES
      2. CONCEPTS, RULES, AND EXAMPLES
      3. DISCLOSURE REQUIREMENTS
    2. 20 INVENTORY
      1. PERSPECTIVE AND ISSUES
      2. CONCEPTS, RULES, AND EXAMPLES
      3. DISCLOSURE REQUIREMENTS
    3. 21 LONG-LIVED ASSETS, DEPRECIATION, AND IMPAIRMENT
      1. PERSPECTIVE AND ISSUES
      2. CONCEPTS, RULES, AND EXAMPLES
      3. DISCLOSURE REQUIREMENTS
    4. 22 INTANGIBLE ASSETS
      1. PERSPECTIVE AND ISSUES
      2. CONCEPTS, RULES, AND EXAMPLES
      3. DISCLOSURE REQUIREMENTS
    5. 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. 24 MERGERS AND ACQUISITIONS
      1. PERSPECTIVE AND ISSUES
      2. ACCOUNTING FOR MERGERS AND ACQUISITIONS OF NOT-FOR-PROFIT ORGANIZATIONS
      3. CONCLUSION
    7. 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
      6. NOTE
    8. 26 LONG-TERM LIABILITIES
      1. PERSPECTIVE AND ISSUES
      2. CONCEPTS, RULES, AND EXAMPLES
      3. ACCOUNTING FOR COSTS ASSOCIATED WITH EXIT OR DISPOSAL ACTIVITIES
      4. ENVIRONMENTAL REMEDIATION LIABILITY
    9. 27 ACCOUNTING CHANGES
      1. PERSPECTIVE AND ISSUES
    10. 28 ACCOUNTING FOR LEASES
      1. PERSPECTIVE AND ISSUES
      2. DEFINITIONS OF TERMS
      3. CONCEPTS, RULES, AND EXAMPLES
      4. DISCLOSURE REQUIREMENTS
      5. NOTE
    11. 29 FINANCIAL INSTRUMENTS
      1. PERSPECTIVE AND ISSUES
      2. CONCEPTS, RULES, AND EXAMPLES
    12. 30 CAPITALIZATION OF INTEREST COSTS
      1. PERSPECTIVE AND ISSUES
      2. CONCEPTS, RULES, AND EXAMPLES
      3. DISCLOSURE REQUIREMENTS
  10. APPENDIX: DISCLOSURE CHECKLIST
  11. INDEX
  12. END USER LICENSE AGREEMENT

Product information

  • Title: Wiley Not-for-Profit GAAP 2019
  • Author(s): Richard F. Larkin, Marie DiTommaso
  • Release date: September 2019
  • Publisher(s): Wiley
  • ISBN: 9781119511656