The Simplified Guide to Not-for-Profit Accounting, Formation & Reporting

Providing you with a comprehensive understanding of how to maintain the "books" of a typical nonprofit entity and comply with numerous reporting requirements, The Simplified Guide to Not-for-Profit Accounting, Formation & Reporting equips you with everything you need to know to form a Not-For-Profit, setup an accounting system, record financial transactions and report to donors and regulatory bodies.

Topics include:

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  Step-by-step guide to forming a Not-For-Profit and applying for tax exemption

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  Becoming familiar with unique Not-For-Profit accounting rules such as classifying contributions/grants and recording restrictions, allocation of expenses to programs and supporting services and investment classification and reporting

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  Budget development, payroll processing and accounting for personnel costs

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  Shows how to prepare and understand required Not-For-Profit financial statement and their components

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  Provides you with a broad understanding of the numerous filing requirement required by donors, grantors and government regulatory agencies

Practical and comprehensive in scope, The Simplified Guide to Not-for-Profit Accounting, Formation & Reporting offers a wealth of practical information to accountants and non-accountants alike for understanding Not-For-Profit financial transactions, financial statements and the many internal and external reports they must prepare.

Keywords: nonprofit not-for-profit financial statements, nonprofit not-for-profit accounting, budget preparation, budget variance reporting, budget report, Not-For-Profit nonprofit GAAP, regulatory agencies, application for tax exemption, accounting software, restricted assets, restricted contributions, net assets, payroll service companies, accrual accounting, double-entry, journal enties, general ledger, Board of Directors, audit report, bank reconciliation, government grants, beneficiaries, by-laws, charitable trusts, contribution in-kind, donated services, donated facilities, double-entry, endowment fund, exchange transaction, expense reimbursement, exempt organization, fee for service, fund accounting, grantor, employee verses independent contractor, Internal Revenue Service, Form 990, pooled investments, program expenses, public charities, private foundation, separation of duties, split interest agreement, straight line method, statement of financial position, statement of activities, statement of functional expenses, support, trustee, trust, refundable advance, useful life, unrelated business income, unrelated business income tax, UBIT, volunteer health and welfare organization, advertising income, agency transactions, capital lease, beneficiaries, fair value, debits and credits, starting a non profit not-for-profit, SFAS #116, SFAS #117, program service, excise tax, noncash contributions, notes to financial statements, related organizations