Wiley Not-for-Profit GAAP 2018: Interpretation and Application of Generally Accepted Accounting Principles
- 12h 26m
- Marie DiTommaso, Richard F. Larkin
- John Wiley & Sons (US)
- 2018
The essential not-for-profit GAAP reference, updated with the latest standards
Wiley Not-for-Profit GAAP 2018 is the essential accounting resource for not-for-profit organizations, providing quick access to the most up-to-date standards and practical tools for implementation. Designed help you find the answers you need quickly and easily, this guide features helpful visual aids alongside detailed explanations tailored to the not-for-profit sector. Authoritative discussion covers Financial Accounting Standards Board (FASB) Accounting Standards Codification, which includes the standards originally issued in the Statements, Interpretations and Technical Bulletins; Accounting Principles Board Opinions, Accounting Research Bulletins, AICPA Statements of Position and FASB Emerging Issues Task Force statements relevant to the not-for-profit organization.
The unique characteristics of the not-for-profit organization demand adherence to specific GAAP; auditors and preparers must understand these standards, stay up-to-date as they continue to evolve and know how to apply them in the course of real-world financial statement preparation. This book provides the guidance you need in a user-friendly format.
- Get up to date on the latest changes to GAAP affecting not-for-profit organizations
- Reference authoritative standards for measurement, presentation and disclosure
- Consult flowcharts, diagrams and charts to find answers at a glance
- Double-check disclosures against a checklist of GAAP requirements
Accounting standards are constantly changing, and the special requirements targeting not-for-profits add an additional challenge to full compliance. Instead of wading through dozens of volumes of official pronouncements to locate relevant information, consult an all-in-one resource targeted specifically to not-for-profit GAAP — one that is updated annually to bring you the most current information available. Wiley Not-for-Profit GAAP 2018 provides clear answers and practical guidance to help you streamline GAAP implementation and ensure compliance.
About the Authors
Richard F. Larkin is technical director of not-for-profit accounting and auditing for BDO USA, LLP, in McLean, Virginia. Previously he was the technical director of the Not-for-Profit Industry Services Group in the national office of PricewaterhouseCoopers. He is a certified public accountant with over forty years of experience serving not-for-profit organizations as independent accountant, board member, treasurer, and consultant. He teaches, speaks, and writes extensively on not-for-profit industry matters and is active in many professional and industry organizations. He has been a member of the Financial Accounting Standards Board Not-for-Profit Advisory Task Force and the AICPA Not-for-Profit Organizations Committee, and chaired the AICPA Not-for-Profit Audit Guide Task Force. He participated in writing both the third and fourth editions of Standards of Accounting and Financial Reporting for Voluntary Health and Welfare Organizations, and the AICPA Practice Aid, Financial Statement Presentation and Disclosure Practices for Not-for-Profit Organizations. He graduated from Harvard College and has an MBA from Harvard Business School. He is a coauthor of the fourth, fifth, and sixth editions of Financial and Accounting Guide for Not-for-Profit Organizations, which were published by John Wiley & Sons, Inc.
Marie DiTommaso has thirty years of experience in accounting and financial reporting in both the not-for-profit and commercial accounting environments. She began her career with KPMG after graduating from Queens College of the City University of New York. Later in her career, she joined the American Express Company and then Dun & Bradstreet Corporation, both to develop, write, and implement accounting policies and procedures. After leaving these corporate organizations, Ms DiTommaso served as the chief financial officer of a not-for-profit organization.
Ms. DiTommaso has served as President of the Bergen County chapter of the New Jersey Women Business Owners Association, and as an advisor to its Board of Directors.
In this Book
-
Not-for-Profit Accounting Literature
-
Overview of Not-for-Profit Organizations
-
Cash versus Accrual-Basis Accounting
-
Statement of Financial Position
-
Statement of Activities
-
Statement of Cash Flows
-
Other Financial Statement Issues
-
Fund Accounting
-
Net Assets
-
Contributions, Pledges, Noncash Contributions, and Exchange Transactions
-
Investments
-
Affiliated Organizations
-
Split-Interest Agreements
-
Fundraising and Joint Costs
-
Functional Reporting
-
Collections
-
Accounting for Specific Types of Not-for-Profits
-
Importance of Budgets to a Not-for-Profit
-
Principal Federal and State Tax Reporting and Regulatory Requirements
-
Current Assets and Current Liabilities
-
Inventory
-
Long-Lived Assets, Depreciation, and Impairment
-
Intangible Assets
-
Contingencies
-
Mergers and Acquisitions
-
Accounting for Pensions and Postretirement Benefits
-
Long-Term Liabilities
-
Accounting Changes
-
Accounting for Leases
-
Financial Instruments
-
Capitalization of Interest Costs
