Nonprofit accounting & financial statements : Overview for board, management, and staff Cover Image

Book

Nonprofit accounting & financial statements : Overview for board, management, and staff / Thomas R. Ittelson.

Ittelson, Thomas R., 1946- (Author).

Summary:

Nonprofit accounting & financial statements: Overview for board, management, and staff by Thomas R. Ittelson will teach you how the financial accounts of your nonprofit organization function. Written for non-financial types, this book focuses on the four major financial statements of a non-profit organization: the Statement of Activities, Statement of Financial Position, Statement of Cash Flows, and also the Statement of Functional Expenses. -- back cover.

Record details

ISBN: 9780997108965
ISBN: 0997108967
Physical Description: xx, 231 pages : illustrations ; 22 cm
Edition: Revised 2nd edition with New Accounting Standards Update.
Publisher: Cambridge, MA : Mercury Group Press, [2017]
Copyright: ©2017

Content descriptions

General Note:	This revised edition covers new requirements in nonprofit accounting and financial reporting from changes made in late 2017 not included in the first edition.
Bibliography, etc. Note:	Includes bibliographical references and index.
Formatted Contents Note:	Section A: Setting the stage -- 1. Nonprofits: Big business in the USA -- 2. Financial direction, oversight & control -- Section B: Nonprofit financial statements -- 3. Nonprofit accounting rules -- 4. Statement of activities -- 5. Statement of financial position -- 6. Statement of cash cows -- 7. Statement of functional expenses -- Section C: The mechanics of nonprofit accounting -- 8. Recording financial transactions -- 9. Contribution, gift, & pledge transactions -- 10. Program services transactions -- 11. Payroll expense transactions -- 12. Contracts and grants transactions -- 13. Capital transactions & depreciation -- 14. Fundraising transactions -- 15. Other common transactions -- Section D: Planning, budgeting, financial reporting & oversight -- 16. Measuring financial performance -- 17. Ratios & benchmarking -- 18. Nonprofit "dashboards" -- 19. Planning, budgeting & strategy -- 20. Financial reporting with form 990 -- Section E: Conclusion -- 21. What can go wrong? -- 22. Twenty important lessons learned -- Addendum: FASB changes the rules (slightly, but importantly) -- Further reading -- Index.