OBJECTIVE:
A comprehensive review of the presentation and disclosure requirements faced by a not-for-profit organization when it applies ASNFPO and relevant ASPE standards.  Participants will review a variety of examples and learn to apply the disclosure requirements for a number of different areas that NFPOs regularly deal with.

WHO WILL BENEFIT:
Professionals at all levels involved in the preparation and review of NFPO financial statements. Government-controlled NFPOs must follow the Public Sector Accounting Handbook, which will not be addressed in this seminar.

LEARNING OUTCOMES:
By the end of this course, participants will be able to:

• Identify and analyze accounting issues specific to NPOs and determine the appropriate disclosure required
• Identify where policy choice exists and determine the appropriate level of disclosure required to communicate those choices to the user of the financial statements
• Interpret facts and scenarios to determine the appropriate presentation and disclosure

CONTENT:

•  concepts that drive the presentation and disclosure requirements
• statement of operations presentation and related disclosures
• statement of financial position presentation and related disclosures, e.g. financial instruments
  statement of changes in net assets
• statement of cash flow presentation and related disclosures
• choosing a presentation methodology and understanding the different methods for accounting for contributions
• review of sample financial statements using real world examples
• disclosure of significant accounting policies
• financial instruments
• inventories
• controlled and related entities
• tangible and intangible capital assets and collections held by a not-for-profit organization
• employee future benefits
• other revenues and contributions
• allocated expenses and interfund transfers
• COVID-19 considerations and Handbook standards to consider
• ongoing projects and potential impact of change

PREREQUISITES:
An understanding of the CPA Handbook – Accounting Part III, with respect to measurement issues, or completion of the seminar ASNFPO – Review of the Standards.

COURSE LEADER: DEAN AUSTIN, FCPA, FCA