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More About This Title Wiley Not-for-Profit GAAP 2016 - Interpretationand Application of Generally Accepted AccountingPrinciples
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Wiley Not-for-Profit GAAP 2016 is a thorough examination of the authoritative standards for measurement, presentation and disclosure as applied to not-for-profit organizations. Due to these organizations' unique characteristics, not-for-profit accountants must adhere to specific Generally Accepted Accounting Principles (GAAP). These requirements are complex and ever evolving, but this single volume brings them together, providing the most up-to-date information available. Flowcharts and diagrams are used to assist the reader's understanding of the material. Additionally, a financial statement disclosure checklist facilitates GAAP adherence.
Designed specifically for accountants in public practice and industry, this guide covers requirements from all relevant organizations, including the Financial Accounting Standards Board (FASB) and Accounting Principles Board (APB). Technical and accounting research bulletins are clearly and concisely summarized, as are all statements of position important to not-for-profit organizations. Together, these resources make Wiley Not-for-Profit GAAP 2016 a complete reference tool for auditors and financial personnel in the not-for-profit sector.
- Refine basic financial statements, including Financial Position, Activities and Cash Flow
- Tackle not-for-profit-specific issues like fundraising, noncash contributions, affiliations and pledges
- Tailor accounting methods to the specific type of organization, with budgeting, tax reporting and regulatory advice
- Discover how general accounting topics like assets, mergers and liabilities are applied to not-for-profit organizations
Preparers and auditors of not-for-profit accounts must stay up-to-date on the latest GAAP practices to best serve the organization, while complying with all disclosure, reporting and regulatory requirements. Wiley Not-for-Profit GAAP 2016 provides extensive coverage and practical advice on the latest GAAP, tailored to the not-for-profit organization's unique needs.
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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.
Marie DiTommaso, CPA, (Woodcliff Lake, NJ) is a partner in her own CPA practice, DiTommaso & Ruppel, CPAs. She has over 20 years of experience in accounting and financial reporting in both the not-for-profit and commercial accounting environments.
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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
