Case Studies in Not-for-Profit Accounting and Auditing
Description
Gain hands-on experience with case studies designed to simulate real-world scenarios and common problems in today’s not-for-profit environment. This course goes beyond the theory and will show you how to navigate the key issues that arise in not-for-profit accounting and auditing.
Learning Objectives
Upon completion of this seminar, participants will be able to:
Identify the accounting differences between contribution and exchange transaction revenues
Recall key issues relating to the recording and valuation of contributed services.
Identify key accounting issues related to pledges and special event costs associated with a capital campaign
Recognize financial statement presentation deficiencies by reviewing an incorrectly prepared statement
Apply important auditing concepts to a statement of functional expenses.
Determine effective audit procedures to employ in response to identified fraud risk factors.
Analyze critical concepts involved in auditing contributions.
Major Topics
Financial statement requirements
Net asset classifications: unrestricted, temporarily restricted, and permanently restricted net assets
Consideration of fraud
Promises to give
Distinguishing contributions from exchange transactions
Auditing contributions
Contributed services
Split-interest agreements
Assessing internal control deficiencies
Capital campaigns and special events
Fundraising events and membership
Allocation of costs relating to fundraising
Audit issues related to the statement of functional expenses
Provider
AICPA
Course Level
Intermediate
Professional Area of Focus
Accounting & Auditing
CPE Field of Study
Accounting (Governmental)
4.00
Auditing (Governmental)
4.00
Who Should Attend
Not-for-profit professionals responsible for accounting and reporting and auditors of not-for-profits
Instructor(s)
Tony Cuozzo
Prerequisites
Experience in the not-for-profit environment
Advanced Preparation
Location
Loyola Graduate Center
2034 Greenspring Dr Lutherville-Timonium, MD21093US
