Unique Areas for Auditing of Not-for-Profit Organizations (Completed)

Date: Thursday, August 5, 2021
Instructor: Diane Edelstein
Begin Time:  9:00am Pacific Time
10:00am Mountain Time
11:00am Central Time
12:00pm Eastern Time
CPE Credit:  2 hours for CPAs

The auditing of a Not-for-Profit Organization (NPO) is similar in many ways to the audit of any organizations. However, certain key differences do exist. We will start by looking at the big picture differences and then we will cover NPO specific financial statements, conditional vs. restricted contributions, recording of donated goods and services and agency transactions. We will look at other areas that are unique to NPOs and related specific footnote disclosures. We will discuss the newer liquidity and availability disclosure required by all NPOs.

Who Should Attend
This session is for auditors and also helpful to the NPO financial personnel.

Topics Covered

  • Big picture differences
  • Specific NPO financials statements
  • Conditional vs. restricted contributions
  • Recording of donated goods and services and agency transations
  • Other areas that are unique to NPOs and related specific footnote disclosures
  • The newer liquidity and availability disclosure required by all NPOs

Learning Objectives

  • Recognize the big picture differences
  • Identify specific NPO financial statements
  • Differentiate between conditional vs. restricted contributions
  • Recognize how to record donated goods and services and agency transactions

Level
Basic

Instructional Method
Group: Internet-based

NASBA Field of Study
Auditing (2 hours)

Program Prerequisites
None

Advance Preparation
None

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