ASNFPO - Disclosure and Presentation (OC)
A comprehensive review of the presentation and disclosure requirements faced by a not-for-profit organization when it applies ASNFPO and relevant ASPE standards.
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.
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
- 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
- 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
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