Wiley Not-for-Profit GAAP 2010: Interpretation and Application of Generally Accepted Accounting Principles

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

• ISBN13: 9780470453254
• ISBN10: 0470453257
• Format: Paperback
• Copyright: 2010-03-01
• Publisher: Wiley

Summary

Wiley Not-for-Profit GAAP annual is a comprehensive accounting and financial reporting guide for use by not-for-profit organizations and their auditors in preparing financial statements in accordance with generally accepted accounting principles (GAAP). The Financial Accounting Standards Board (FASB) defines nonprofit organizations as entities that possess the following characteristics not typically found in business enterprises: 1) They receive contributions of significant resources from resource providers who do not expect a commensurate or proportionate monetary return. 2) They operate for purposes other than to make a profit and 3) There is an absence of ownership interests like those of business enterprises.

Table of Contents

Overview of Not-for-Profit Organizations
Overview of Not-for-Profit Organizations	p. 3
Cash versus Accrual Basis Accounting	p. 9
Basic Financial Statements
Statement of Financial Position	p. 21
Statement of Activities	p. 27
Statement of Cash Flows	p. 36
Other Financial Statement Issues	p. 49
Specific Not-for-Profit Accounting Topics
Fund Accounting	p. 67
Net Assets	p. 79
Contributions, Pledges, and Noncash Contributions	p. 87
Checklist	p. 108
Checklist	p. 110
Checklist	p. 112
Checklist	p. 114
Checklist	p. 116
Checklist	p. 119
Investments	p. 123
Affiliated Organizations	p. 139
Checklist	p. 159
Split-Interest Agreements	p. 161
Fund-Raising and Joint Costs	p. 172
Checklist	p. 184
Functional Reporting	p. 186
Collections	p. 191
Other Accounting-Related Not-for-Profit Topics
Accounting for Specific Types of Not-for-Profits	p. 197
Associations and Professional Societies	p. 197
Churches	p. 200
Clubs	p. 201
Libraries	p. 202
Museums	p. 203
Performing Arts Organizations	p. 204
Private Foundations	p. 205
Religious Organizations other than Churches	p. 208
Research and Scientific Organizations	p. 209
Private Elementary and Secondary Schools	p. 210
Public Broadcasting Systems	p. 210
Importance of Budgets to a Not-for-Profit	p. 212
Principal Federal and State Tax Reporting and Regulatory Requirements	p. 231
General Accounting Topics Applied to Not-for-Profit Organizations
Current Assets and Current Liabilities	p. 289
Inventory	p. 296
Long-Lived Assets, Depreciation, and Impairment	p. 305
Intangible Assets	p. 318
Contingencies	p. 324
Mergers and Acquisitions	p. 338
Accounting for Pensions and Postretirement Benefits	p. 355
Long-Term Liabilities	p. 390
Accounting Changes	p. 408
Accounting for Leases	p. 415
Financial Instruments	p. 450
Capitalization of Interest Costs	p. 462
Appendix: Disclosure Checklist	p. 468
Index	p. 495
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