GAAP for Nonprofits
FPLG Senior Counsel Chuck Borek will be presenting on GAAP for Nonprofits, the main method of communicating the fiscal health of an organization is its financial statements. Evaluating the status of a nonprofit organization, however, require metrics different from those applied to for-profit entities. For this reason, GAAP mandates special accounting methods and procedures for nonprofits; understanding those rules is essential to comprehending the performance and outlook of charities and other nonprofit organizations. In this webinar we will discuss the basic areas where nonprofit accounting and financial reporting differs from for-profits and what those differences reveal. The topics discussed will include: - How “equity” is reflected on a nonprofit’s financial statements - Reporting charitable contributions - The difference between accounting and tax rules - Understanding functional expense reporting - Nonprofit disclosures you should pay attention to
