Wiley Not-for-Profit GAAP 2006: Interpretation and Application of Generally Accepted Accounting Principles for Not-for-Profit Organizations

by Richard F. Larkin (Price Waterhouse); Marie DiTommaso (DiTommaso & Ruppel, CPA's, Woodcliff Lake, NJ)

• ISBN13: 9780471726913
• ISBN10: 0471726915
• Format: Paperback
• Copyright: 2006-01-01
• Publisher: Wiley

Summary

The fundamentals of not-for-profit GAAP in an easily accessible formatWiley Not-for-Profit GAAP 2006 is a comprehensive reference tool that helps not-for-profit organizations and their auditors prepare financial statements in accordance with generally accepted accounting principles (GAAP). This user-friendly guide provides a thorough examination of the authoritative standards for measurement, presentation, and disclosure related to not-for-profits. It also features such practical tools as a financial statement disclosure checklist, flowcharts, diagrams, and charts.Richard F. Larkin, CPA (Bethesda, MD), is Technical Director of Not-for-Profit Accounting and Auditing for Long Group, Chartered, in Bethesda, Maryland. Marie DiTommaso, CPA (Woodcliff Lake, NJ), is a partner in her own CPA practice, DiTommaso & Ruppel, CPAs.

Table of Contents

Authoritative Accounting Pronouncements	x
Part 1 Overview of Not-for-Profit Organizations
Overview of Not-for-Profit Organizations	3	(4)
Cash versus Accrual Basis Accounting	7	(12)
Part 2 Basic Financial Statements
Statement of Financial Position	19	(6)
Statement of Activities	25	(9)
Statement of Cash Flows	34	(13)
Other Financial Statement Issues	47	(20)
Part 3 Specific Not-for-Profit Accounting Topics
Fund Accounting	67	(12)
Net Assets	79	(6)
Contributions, Pledges, and Noncash Contributions	85	(33)
Appendix A Checklist	103	(2)
Appendix B Checklist	105	(2)
Appendix C Checklist	107	(2)
Appendix D Checklist	109	(2)
Appendix E Checklist	111	(3)
Appendix F Checklist	114	(4)
Investments	118	(15)
Affiliated Organizations	133	(21)
Appendix A Checklist	152	(2)
Split-Interest Agreements	154	(11)
Fund-Raising and Joint Costs	165	(13)
Functional Reporting	178	(5)
Collections	183	(6)
Part 4 Other Accounting-Related Not-for-Profit Issues Topics
Accounting for Specific Types of Not-for-Profits	189	(15)
Associations and Professional Societies	189	(3)
Churches	192	(1)
Clubs	193	(1)
Libraries	194	(1)
Museums	195	(1)
Performing Arts Organizations	196	(1)
Private Foundations	197	(3)
Religious Organizations other the Churches	200	(1)
Research and Scientific Organizations	201	(1)
Private Elementary and Secondary Schools	202	(1)
Public Broadcasting Systems	202	(2)
Importance of Budgets to a Not-for-Profit	204	(18)
Principal Federal and State Tax Reporting and Regulatory Requirements	222	(51)
Part 5 General Accounting Topics Applied to Not-for-Profit Organizations
Current Assets and Current Liabilities	273	(7)
Inventory	280	(9)
Long-Lived Assets, Depreciation, and Impairment	289	(12)
Intangible Assets	301	(5)
Contingencies	306	(11)
Business Combinations	317	(15)
Accounting for Pensions and Postretirement Benefits	332	(36)
Long-Term Liabilities	368	(19)
Accounting Changes	387	(19)
Accounting for Leases	406	(35)
Financial Instruments	441	(6)
Capitalization of Interest Costs	447	(6)
Appendix: Disclosure Checklist	453	(24)
Index	477