Printer Friendly

Not-for-profits get new edition of Accounting Trends & Techniques: fresh views on financial statement reporting and disclosure practices in new publication.

Special for the Journal of Accountancy

The AICPA has released a new edition of Accounting Trends & Techniques--Not-for- Profit Organizations (product No. 006616,, part of a series of such publications which for over 55 years has provided CPAs with commentary, illustrations and example financial statement disclosures.

The publication provides illustrative financial statements and related disclosures for non-governmental not-for-profit organizations, other than healthcare providers. The examples have been adapted from actual examples of audited financial statements of not-for-profit organizations whose names and other identifying information have been changed.

Organized to be used as a reference tool, it provides practitioners with practical, though non-authoritative, guidance on nonprofits' financial statements and disclosures. CPAs will find sample financial statements like these:

* Statements of Financial Position

* Statements of Activity, Including Changes in Net Assets

* Statements of Cash Flows

* Statements of Functional Expenses

And note disclosures:

* Disclosures--General (includes examples of descriptions of organizations and general accounting policies, contingencies and other uncertainties, including going concern questions, related parties, use of estimates, comparative prior period information, foreign operations, accounting changes and sample management statement of responsibility)

* Disclosures Related Primarily to the Statement of Financial Position (includes examples of investments, contributions receivable, other receivables, inventory and prepaid expenses, collections, fixed assets, liabilities and net assets)

* Disclosures Related Primarily to the Statement of Activity and Related Statements (includes examples of measure of operations, contributions received, including government grants, earned income and deferred revenue and expenses)

With additional information, such as:

* Financial Statements Prepared on a Basis Other Than GAAP (includes cash or modified cash basis)

* Information Outside the Financial Statements (includes examples of program-focused information, statistical highlights and year-end highlights)

Also included in the publication are appendixes A through E, which include excerpts from SFAS No. 117, SFAS No. 116, the AICPA Audit and Accounting Guide Not-for-Profit Organizations, SFAS No. 136 and SFAS No. 124.
COPYRIGHT 2005 American Institute of CPA's
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2005, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:NEW & NOTEWORTHY
Publication:Journal of Accountancy
Article Type:Advertisement
Date:Nov 1, 2005
Previous Article:What CPAs are buying now.
Next Article:Springboard for searches.

Related Articles
Statements to the Congress.
Now available.
Accounting trends & techniques. (2003 AICPA Marketplace).
Investment adviser advertising: for the uninitiated, the SEC's complex rules can have unintended consequences.
New resources.
Accounting Trends & Techniques, 58th edition.
Internal control weaknesses in April highlight leases.
Council approves moving forward with exploring GAAP for private companies.
Now available.
Financial reporting: recommendations from the Committee on the Future of California's Professional Accountants.

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters