Details

<p>Preface vii</p> <p>Chapter 1 Introduction 1</p> <p>Chapter 2 Nfp Organization Formation 7</p> <p>Chapter 3 Nfp Organizational Structure 29</p> <p>Chapter 4 Introduction to Nfp Accounting and Reporting 41</p> <p>Chapter 5 Nfp Accounting System and Financial Statements 63</p> <p>Chapter 6 Assets—concepts and Data Flow 87</p> <p>Chapter 7 Liabilities and Net Assets—Concepts and Data Flow 123</p> <p>Chapter 8 Accounting for Support and Revenue 139</p> <p>Chapter 9 Accounting for Personnel Costs, and other Expenses 155</p> <p>Chapter 10 Investments, Pooling, and Split-interest Agreements 173</p> <p>Chapter 11 Subsidiaries and Interrelated Entities 183</p> <p>Chapter 12 Budget Development and Applications 189</p> <p>Chapter 13 Special Types of Nfp Organizations 199</p> <p>Chapter 14 Regulatory Reporting (990, 990-T, and 990-PF) 205</p> <p>Chapter 15 Contribution/grant Applications and Reporting 227</p> <p>Chapter 16 Audits—preparation and Response 235</p> <p>Chapter 17 Conclusion 243</p> <p>Appendix A Tax-exempt Organization Reference Chart 245</p> <p>Appendix B Sample Nfp Chart of Accounts 253</p> <p>Appendix C Abbreviations 257</p> <p>Glossary 259</p> <p>About the Author 269</p> <p>Index 271</p>

<p><b>LAURENCE SCOT</b> is the cofounder and comanaging partner of Skody Scot & Company, a midtown CPA firm formed in 1990 that specializes in servicing the Not-for-Profit community. Scot has taught undergraduate and graduate classes at several colleges; been lecturing and giving seminars to CPAs, bankers, NFP D&Os (directors and officers), managers, and entrepreneurs for over twenty years on a variety of subjects; and is the creator of the first in-class certificate program in Not-for-Profit accounting and governmental reporting.

<p><b><i>Praise for</i> THE SIMPLIFIED GUIDE TO NOT-FOR-PROFIT ACCOUNTING, FORMATION & REPORTING</b> <p>"There are numerous publications about the NFP industry, but not many that give a good fundamental understanding of the accounting principles. The material in this book will be of great help to new employees as well as a good commonsense reference for those with experience. It clearly explains some of the more difficult accounting concepts particular to Not-for-Profits." <br/>—Richard Tierney, Director of Finance, North Shore Animal League America <p>"This book is a concise, complete review of the fundamentals of Not-for-Profit accounting and governance. Every topic is covered with a directness and honesty that builds confidence in those who need to learn how to do their jobs well. This is just what we need in today's choppy Not-for-Profit waters." <br/>—Rev. Luke L. Travers, OSB, Business Officer, Delbarton School/St. Mary's Abbey <p>"Larry Scot's book is a clearly written step-by-step guide on how to set up and maintain accounting records. Every Not-for-Profit financial executive should have this book on their shelf for reference. I highly recommend this book." <br/>—Gail Rizick, CPA/ABV/CFF, CVA, Cr.FA, ASA <p><b>YOUR A-TO-Z GUIDE TO NOT-FOR-PROFIT FORMATION, ACCOUNTING, AND REPORTING</b> <p>If you need basic, easy-to-understand information on how Not-for-Profit organizations are formed, how they're structured, and the unique accounting and reporting issues they face, <i>The Simplified Guide to Not-for-Profit Accounting, Formation, and Reporting</i> is the only resource you need. <p>This comprehensive guide provides you with expert advice on how to maintain the financial "books" of a typical Not-for-Profit entity and what is needed to comply with most reporting requirements. Plus, it lays out what a Not-for-Profit organization is, the rules it must follow, the role and responsibilities of its board of directors, and the various regulatory agencies that Not-for-Profits must report to. <p>Straightforward and hands-on, this effective reference will help you navigate through all of the key accounting and reporting issues unique to the Not-for-Profit world, including: <ul> <li> Step-by-step instructions for forming a Not-for-Profit</li> <li>Not-for-Profit internal controls and financial statements</li> <li>Developing a "chart of accounts" and operating budgets</li> <li>Not-for-Profit accounting rules and GAAP</li> <li>Everything you need to know about the new Form 990</li> <li>Accounting for unrestricted and restricted contributions, grants, and other revenue</li> <li>Plus much more!</li> </ul> <p>Whether you are performing accounting functions, responsible for financial management, or simply want to understand Not-for-Profit accounting, operations, and reporting, <i>The Simplified Guide to Not-for-Profit Accounting, Formation, and Reporting</i> is a great and handy book to have around for easy reference.

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