1 / 8

Session 9-NPO F/S

Session 9-NPO F/S. Required Financial Statements Accounting for Investments. Required F/S. Statement of Financial Position: B/S Net assets classified by donor restriction Statement of Activities: Operations Distinguish operating from non-operating Statement of Cash Flows Follows FAS 95.

kendall
Download Presentation

Session 9-NPO F/S

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Session 9-NPO F/S • Required Financial Statements • Accounting for Investments Governmental & NPO Accounting-2008

  2. Required F/S • Statement of Financial Position: B/S • Net assets classified by donor restriction • Statement of Activities: Operations • Distinguish operating from non-operating • Statement of Cash Flows • Follows FAS 95 Governmental & NPO Accounting-2008

  3. Statement of Financial Position • Assets, liabilities and net assets • Classified • No equity • Net assets • Unrestricted • Temporarily restricted • Permanently restricted • Footnotes • Must give details of net asset restrictions Actual G/L accounts Governmental & NPO Accounting-2008

  4. Statement of Activities • Revenues • Classified by restriction • Restriction expiration indicated • Expenses • All unrestricted • Functional classification • Natural classification is optional • Format • Columnar • Restrictions apply to private HCOs Governmental & NPO Accounting-2008

  5. Statement of Cash Flows • Either direct or indirect method for operating cash • Direct method preferred • Indirect method reconciles to change in net assets Governmental & NPO Accounting-2008

  6. Other Statements • VHWOs • Statement of Functional Expenses • Aligns natural classification spending with functions • Addition to other financial statements • HCOs • Statement of Operations versus Statement of Activities • Shows operating income, and • Other income • Includes only unrestricted flows • Release of restrictions • Above the line: operations • Below the line: capital assets Governmental & NPO Accounting-2008

  7. Investments • FAS 124 applies • Equity and debt securities • Valued at fair value • Gains and losses, realized and unrealized • Reported in Statement of Activities • Aligned with restrictions Governmental & NPO Accounting-2008

  8. Other Signigicant Pronouncements • AICPA SOP 98-2: Fund Raising Costs • Provides visibility into the cost of fund raising • AICPA SOP 93-7: Advertising Costs • Provides visibility into advertising costs Governmental & NPO Accounting-2008

More Related