Not-for-profit Accounting Made Easy - Tapa dura

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WARREN RUPPEL, CPA, began his career at KPMG Peat Marwick in 1979 and joined Deloitte & Touche in 1989 to specialize in not-for-profit organizations and audits of governments. Mr. Ruppel has since served as the chief financial officer of an international not-for-profit organization and is currently the Assistant Comptroller responsible for accounting and financial reporting for New York City. He is the author of many successful Wiley GAAP guides as well as other titles.

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Today, there are more than one million not-for-profit organizations in the United States, ranging from country clubs to churches and everything in between. Because these organizations finances are closely scrutinized, it is important that those individuals responsible for accounting and finance functionsoften nonaccountantsare well informed on the particulars of accounting for not-for-profits. This book shows how to read and understand a not-for-profit financial statement, while providing those responsible for accounting functions with a basic understanding of the accounting and financial reporting practices of a not-for-profit.

This simple, practical book is helpful not only for nonaccountants with accounting duties but also for people who work with not-for-profits in a variety of capacities. Management and staff, board members, consultants, donors, and creditors can all benefit from understanding the fundamental principles of not-for-profit accounting. Since not-for-profit accounting differs in many subtle ways from normal business accounting, this book also helps professional accountants brush up on the idiosyncrasies that separate the two.

Not-for-Profit Accounting Made Easy explains not-for-profit accounting principles and reporting standards in simple terms that are easily understood by those with little or no prior accounting experience. It conforms to FASB and AICPA standards and forms and covers these topics, among others:

• Basic accounting terminology
• Fundamental accounting concepts
• Basic financial statements of a not-for-profit organization
• Accounting for contributions, investments and financial instruments, activities with joint costs, affiliated organizations, and collections
• Accounting peculiarities of health care, education, and religious and cultural not-for-profits
• Accounting for mergers between not-for-profits
• Accounting for pension plans and other employee benefit plans
• Lease accounting fundamentals
• Basic not-for-profit organization financial statement analysis for board members and potential donors
• Upcoming accounting and financial reporting changes
• Defining and accounting for split interest agreements