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Wiley Not-for-Profit GAAP 2020

Wiley Not-for-Profit GAAP 2020 Interpretation and Application of Generally Accepted Accounting Principles

Author: Richard F. Larkin; Marie DiTommaso; Warren Ruppel
Publisher: John Wiley & Sons
ISBN: 9781119595953
Published In: June 2020
Format: Paperback , 576 pages
Jurisdiction: U.S. ? Disclaimer:
Countri(es) stated herein are used as reference only

AU$170.00

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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.

Preface vii

About The Authors ix

Not-for-Profit Accounting Literature xi

Part 1 Overview of Not-for-Profit Organizations 1

Chapter 1 Overview of Not-for-Profit Organizations 3

Chapter 2 Cash Versus Accrual Basis Accounting 11

Part 2 Basic Financial Statements 21

Chapter 3 Statement of Financial Position 23

Chapter 4 Statement of Activities 31

Chapter 5 Statement of Cash Flows 41

Chapter 6 Other Financial Statement Issues 55

Part 3 Specific Not-for-Profit Accounting Topics 73

Chapter 7 Fund Accounting 75

Chapter 8 Net Assets 87

Chapter 9 Contributions, Pledges, Noncash Contributions, and Exchange Transactions 95

Chapter 10 Investments 139

Chapter 11 Affiliated Organizations 159

Chapter 12 Split-Interest Agreements 179

Chapter 13 Fundraising and Joint Costs 189

Chapter 14 Functional Reporting 203

Chapter 15 Collections 209

Part 4 Other Accounting-Related Not-for-Profit Topics 213

Chapter 16 Accounting for Specific Types of Not-for-Profits 215

Chapter 17 Importance of Budgets to a Not-for-Profit 229

Chapter 18 Principal Federal and State Tax Reporting and Regulatory Requirements 247

Part 5 General Accounting Topics Applied to Not-for-Profit Organizations 305

Chapter 19 Current Assets and Current Liabilities 307

Chapter 20 Inventory 315

Chapter 21 Long-Lived Assets, Depreciation, and Impairment 323

Chapter 22 Intangible Assets 335

Chapter 23 Contingencies 343

Chapter 24 Mergers and Acquisitions 359

Chapter 25 Accounting for Pensions and Postretirement Benefits 375

Chapter 26 Long-Term Liabilities 411

Chapter 27 Accounting Changes 429

Chapter 28 Accounting for Leases 435

Chapter 29 Financial Instruments 469

Chapter 30 Capitalization of Interest Costs 481

Appendix: Disclosure Checklist 487

Index 517

Richard F. Larkin, CPA (Bethesda, MD) is technical director of not-for-profit accounting and auditing for Long Group, Chartered, in Bethesda, Maryland. He is a certified public accountant with over 35 years of experience serving not-for-profit organizations. He teaches, speaks, and writes extensively on not-for-profit industry matters.