NFP CAFR Statements

#1. NFP CAFR Statements  (Professor Post)

Over the past few weeks we have explored governmental accounting and its unique differences with respect to fund accounting, modified accrual accounting, and the two sets of financial statements required under GASB Statement #34 – government-wide statements, and fund statements. This week will focus on the intricacies, differences, and uniqueness of the NFP (not-for-profit) organization.Either using a previous selected NFP CAFR or another NFP CAFR you are interested in; identify what financial statements are required of that organization? How are they different or comparable to those provided by organizations that operate for profit? How does the retained earnings section of for-profit organizations differ from that of the net assets section of not-for-profits?

#2. NFP Revenue (Professor Post)

Many of us make pledges such as to NPR, or other organizations (religious groups, social organizations, etc…) When a not-for-profit (NFP) receives these they must account for them.  Sometimes though, they may have a “gift” for making a donation.  And this may have different consequences.  Think of an NFP that you know of. How do they raise money?  Are these pledges/contributions? What determines how they are recorded?  How do these differ from exchange transactions?  In both cases, when is revenue recorded?

#3. NFP Investments (Professor Post)

Using a previous selected NFP CAFR or another NFP CAFR you are interested in, what significant way does this not-for-profit account for investments differently from businesses? How are the investments reflected in the statements of the not-for-profit? What are the disclosure requirements for this not-for-profit as related to investments?