Wiley Not-for-Profit GAAP 2020

Wiley Not-for-Profit GAAP 2020

by Richard F. Larkin, Marie DiTommaso, Warren Ruppel
Released August 2020
Publisher(s): Wiley
ISBN: 9781119595953

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Book description

Ensure that your not-for-profit accounting is airtight for 2020

Not-for profit organizations have unique characteristics, so they must adhere to a specific set of generally accepted accounting principles (GAAP). Wiley Not-For-Profit GAAP 2020 provides practical guidance on how to identify and apply the relevant standards. This guide is indispensable for professionals responsible for preparing and auditing not-for-profit accounts. You will learn how to interpret the relevant accounting principles and how to apply them, all while minimizing unnecessary effort and eliminating potentially costly errors.

This comprehensive yet concise text thoroughly examines the latest standards for measurement, presentation, and disclosure related to not-for-profits. It covers the Financial Accounting Standards Board (FASB) Accounting Standards Codification, all relevant Accounting Standards Updates, and other guidance that applies to not-for-profit organizations, particularly that of the American Institute of Certified Public Accountants (AICPA). With this unrivalled reference tool, your not-for-profit GAAP questions are answered.

  • Easily understand the latest not-for-profit GAAP with visual aids, including flowcharts, diagrams, and illustrations
  • Navigate complex requirements and ensure completeness of GAAP disclosures
  • Stay current with all not-for-profit accounting pronouncements, including FASB, AICPA, and more
  • Enjoy practical, user-friendly guidance on applying the relevant accounting standards in your not-for-profit organization

With Wiley Not-For-Profit GAAP 2020, you can be assured you have the most current, comprehensive accounting information that applies to nonprofit organizations. Stay in compliance and ensure timely, accurate reporting with this authoritative volume.

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. 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
  7. PART 3: SPECIFIC NOT-FOR-PROFITACCOUNTING 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
      13. NOTE
    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 2020
  • Author(s): Richard F. Larkin, Marie DiTommaso, Warren Ruppel
  • Release date: August 2020
  • Publisher(s): Wiley
  • ISBN: 9781119595953