Financial and Accounting Guide for Not-for-Profit Organizations 2003 Cumulative Supplement

Financial and Accounting Guide for Not-for-Profit Organizations 2003 Cumulative Supplement


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The 2003 Cumulative Supplement (0-471-25015-5) completely updates the sixth edition of Financial and Accounting Guide for Not-for-Profit Organizations.

It includes:

  • Summary of the FASB's proposed new "principles-based approach" to setting future accounting standards.
  • Discussion of the Sarbanes-Oxley Act of 2002 and its possible effects on not-for-profit organizations.
  • U.S. General Accounting Office (GAO) Amendment No. 3, Independence
  • Current pronouncements from the AICPA, FASB, and GASB

Product Details

ISBN-13: 9780471250159
Publisher: Wiley, John & Sons, Incorporated
Publication date: 04/11/2003
Series: Wiley Nonprofit Law, Finance and Management Series , #202
Edition description: REV
Pages: 304
Product dimensions: 6.04(w) x 8.88(h) x 0.83(d)

Table of Contents

About the Authors and Editorsxvii
About the Contributorsxxi
Part 1Key Financial Concepts
Chapter 6Fixed Assets--Some Accounting Problems3
6.3AImpairment of Long-Lived Assets (New)3
6.4Separate Building Fund8
Chapter 8Investment Income, Gains and Losses, and Endowment Funds11
8.1Accounting Principles12
Chapter 9Affiliated Organizations, "Pass-Through" Transactions, and Mergers21
9.2Definition of the Reporting Entity21
9.3Mergers of Not-for-Profit Organizations22
Chapter 10Contributions, Pledges, and Noncash Contributions25
Chapter 11Accounting Issues Relating to Fundraising27
11.1Accounting for Gifts27
Part 3Accounting and Reporting Guidelines
Chapter 15Voluntary Health and Welfare Organizations31
Chapter 16Colleges and Universities33
16.1Authoritative Pronouncements33
Chapter 16AThe New External Financial Statement Reporting Model for Public Colleges and Universities (New)35
16A.3Accounting and Financial Reporting for Nonexchange Transactions42
16A.4External Financial Reporting for Public Colleges and Universities46
16A.5An Overview of GASB Statement No. 35: The New Reporting Model for Public Colleges and Universities47
16A.6Basic Financial Statements49
16A.7Footnote Disclosures62
16A.8Management's Discussion and Analysis67
16A.9Implementation Issues and Considerations69
16A.10Next Steps73
Appendix 16A-ABibliography75
Chapter 17Health Care Providers77
17.3Financial Statements77
17.4Accounting Principles78
Chapter 18Accounting Standards for Other Not-for-Profit Organizations93
18.1Accounting Principles93
Chapter 19Special Accounting Issues for Specific Organizations95
19.1Association and Professional Societies95
19.8Religious Organizations Other Than Churches95
19.10Private Elementary and Secondary Schools96
19.11Public Broadcasting Stations96
Chapter 20The Financial Accounting Standards Board and Future Trends in Not-for-Profit Accounting97
20.1Financial Accounting Standards Board97
20.2Trends in Not-for-Profit Accounting99
Part 4Controlling the Not-for-Profit Organization
Appendix 21-AMaking Sense of Your Financial Data (New)103
Chapter 25Effective Internal Accounting Control for Not-for-Profit Organizations123
25.1Introduction to Internal Accounting Control123
Chapter 26Independent Audits125
26.3Selecting a Certified Public Accountant125
26.5Audit Committees125
Chapter 27AE-Business for Not-for-Profit Organizations: How Can Not-for-Profits Manage the Risks to Maximize E-Business Opportunities? (New)127
27AWhether You Call It E-Business or Technology-Enabled Business, It Still Matters128
27A.0Ask Yourself These Questions130
27A.2How Did We Get to the Internet Economy?133
27A.3Where Are We Today?135
27A.4What Is Risk Management?137
27A.5How Are Not-for-Profit Organizations Using E-Business Today?156
27A.6How Are Academic Institutions Using E-Business?160
27A.7What Is the Path to E-Business Success?166
Appendix 27A-AWhat E-Business Models Exist?167
Part 5Principal Federal Tax and Compliance Requirements
Chapter 28Principal Federal Tax Requirements (Revised)175
28.1Organizations Exempt from Tax177
28.2Charitable Organizations178
28.3Tax Status of Charitable Organizations: Public Charity or Private Foundation181
28.4Other Concerns for Charities186
28.5Private Foundations198
28.6Private Operating Foundations204
28.7Noncharitable Exempt Organizations205
28.8Registration and Reporting211
Chapter 29Principal Federal Tax Forms Filed215
29.1Form 990: Return of Organization Exempt from Income Tax215
29.2Form 990-PF: Return of Private Foundation238
29.3Form 990-T: Exempt Organization Business Income Tax Return251
Chapter 30State Compliance Requirements257
Chapter 31Audits of Federally Funded Programs259
31.2Requirements and Definitions259
31.4What to Expect from the Audit259
Appendix BAccounting and Disclosure Guide for Not-for-Profit Organizations263
Appendix DNew AICPA Audit and Accounting Guide: Not-for-Profit Organizations265

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