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Part 2: Basic Financial Statements
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Part 2: Basic Financial Statements
by Warren Ruppel, Marie DiTommaso, Richard F. Larkin
Wiley Not-for-Profit GAAP 2017
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Title Page
Copyright
Preface
About The Authors
Not-for-Profit Accounting Literature
Part 1: Overview of Not-for-Profit Organizations
Chapter 1: Overview of Not-for-Profit Organizations
Perspective and Issues
Chapter 2: Cash versus Accrual-Basis Accounting
Perspective and Issues
Concepts, Rules, and Examples
Legal Requirements
Conclusion
Part 2: Basic Financial Statements
Chapter 3: Statement of Financial Position
Perspective and Issues
Concepts, Rules, and Examples
Disclosure Requirements
Chapter 4: Statement of Activities
Perspective and Issues
Concepts, Rules, and Examples
Elements of the Change in Net Assets
Classification of Revenues, Expenses, Gains and Losses, and Reclassifications
Information about Gross Amounts of Revenues and Expenses
Information about an Organization's Operations
Information about an Organization's Service Efforts
Financial Statement Presentation
Disclosure Requirements
Chapter 5: Statement of Cash Flows
Perspective and Issues
Concepts, Rules, and Examples
Disclosure Requirements
Chapter 6: Other Financial Statement Issues
Comparative Financial Information
Perspective and Issues
Concepts, Rules, and Examples
Disclosure Requirements
Presenting Fund and Net Asset Information
Interim Reporting
Perspective and Issues
Concepts, Rules, and Examples
Disclosure Requirements
Subsequent Events
Public Entities
Part 3: Specific Not-for-Profit Accounting Topics
Chapter 7: Fund Accounting
Perspective and Issues
Concepts, Rules, and Examples
Conclusion
Chapter 8: Net Assets
Perspective and Issues
Concepts, Rules, and Examples
Unrestricted Net Assets
Temporarily Restricted Net Assets
Permanently Restricted Net Assets
Changing Net Asset Classification Reported in a Prior Year
Endowment Fund Reporting
Financial Statement Presentation
Disclosure Requirements
ASU 2016-14 Changes to Net Asset Classifications and Endowments
Chapter 9: Contributions, Pledges, Noncash Contributions, and Exchange Transactions
Perspective and Issues
Concepts, Rules, and Examples
Expendable Current Support
Gifts-in-Kind
Support Not Currently Expendable
Exchange Transactions
Costs to Obtain or Fulfil a Contract with a Customer
Troubled Debt Restructurings—Creditors
Appendix A Checklist
Appendix B Checklist
Appendix C Checklist
Appendix D Checklist
Appendix E Checklist
Appendix F Checklist
Appendix G Checklist
Disclosure Requirements
Chapter 10: Investments
Perspective and Issues
Concepts, Rules, and Examples
Reporting Realized Gains and Losses
Fair Value Disclosures of Investments
Investments in Certain Entities That Calculate Net Asset Value Per Share
Liquidity Restrictions and Other Investment Disclosure Considerations
Loans Acquired in a Transfer
Donor-Restricted Endowment Funds
Investment Income
Alternative Investments
Impairment of Equity Securities Reported at Cost
Equity Method of Accounting
Accounting Rules
Equity Method Application
Disclosure Requirements
Investments
Equity Method
Chapter 11: Affiliated Organizations
Perspective and Issues
Concepts, Rules, and Examples
Reporting of Related Entities
Concepts, Rules, and Examples
Pass-Through Gifts
Appendix A Checklist
Chapter 12: Split-Interest Agreements
Perspective and Issues
Concepts, Rules, and Examples
Disclosure Requirements
Chapter 13: Fundraising and Joint Costs
Perspective and Issues
Concepts, Rules, and Examples
Disclosure Requirements
Appendix A Checklist
Chapter 14: Functional Reporting
Perspective and Issues
Concepts, Rules, and Examples
Disclosure Requirements
Chapter 15: Collections
Perspective and Issues
Concepts, Rules, and Examples
Disclosure Requirements
Part 4: Other Accounting-Related Not-for-Profit Topics
Chapter 16: Accounting for Specific Types of Not-for-Profits
Perspective and Issues
Associations and Professional Societies
Churches
Clubs
Libraries
Museums
Performing Arts Organizations
Private Foundations
Religious Organizations Other Than Churches
Research and Scientific Organizations
Private Elementary and Secondary Schools
Public Broadcasting Stations
Chapter 17: Importance of Budgets to a Not-for-Profit
Perspective and Issues
Functions of the Budget
Steps for Preparation
Monthly and Quarterly Budgets
Timely Interim Statements
A Five-Year Master Plan
Conclusion
Chapter 18: Principal Federal and State Tax Reporting and Regulatory Requirements
The Importance of Meeting Federal and State Reporting Requirements
Organizations Exempt from Tax
Charitable Organizations
Private Foundations
Private Operating Foundations
Other Concerns for Charities
Noncharitable Exempt Organizations
Unrelated Business Income
Registration and Reporting
Reports by Recipients of Federal Support
Principal Federal Tax Forms Filed
Conclusion
State Compliance Requirements
Part 5: General Accounting Topics Applied to Not-for-Profit Organizations
Chapter 19: Current Assets and Current Liabilities
Perspective and Issues
Concepts, Rules, and Examples
Disclosure Requirements
Chapter 20: Inventory
Perspective and Issues
Concepts, Rules, and Examples
Disclosure Requirements
Chapter 21: Long-Lived Assets, Depreciation, and Impairment
Perspective and Issues
Concepts, Rules, and Examples
Disclosure Requirements
Chapter 22: Intangible Assets
Perspective and Issues
Concepts, Rules, and Examples
Disclosure Requirements
Chapter 23: Contingencies
Perspective and Issues
Concepts, Rules, and Examples
Accounting for Uncertainty in Income Taxes (FASB ASC 740-10)
Disclosure Requirements
Chapter 24: Mergers and Acquisitions
Perspective and Issues
Accounting for Mergers and Acquisitions of Not-for-Profit Organizations
Conclusion
Chapter 25: Accounting for Pensions and Postretirement Benefits
Perspective and Issues
Definitions of Terms
Concepts, Rules, and Examples
Accounting Requirements of FASB ASC 715-20
Disclosure Requirements
Chapter 26: Long-Term Liabilities
Perspective and Issues
Concepts, Rules, and Examples
Notes and Bonds
Extinguishment of Debt
Troubled Debt Restructurings
FASB ASC 310-10 creditors.
Accounting for Costs Associated with Exit Or Disposal Activites
Scope
Liability Recognition
One-Time Termination Benefits
Contract Termination Costs
Statement of Activities Presentation
Disclosures
Environmental Remediation Liability
Chapter 27: Accounting Changes
Perspective and Issues
Chapter 28: Accounting for Leases
Perspective and Issues
Definitions of Terms
Concepts, Rules, and Examples
Disclosure Requirements
Chapter 29: Financial Instruments
Perspective and Issues
Concepts, Rules, and Examples
Chapter 30: Capitalization of Interest Costs
Perspective and Issues
Concepts, Rules, and Examples
Disclosure Requirements
Appendix: Disclosure Checklist
Index
End User License Agreement
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Chapter 2: Cash versus Accrual-Basis Accounting
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Chapter 3: Statement of Financial Position
Part 2
Basic Financial Statements
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