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<p>Preface vii</p> <p>Learning Objectives ix</p> <p>Introduction xi</p> <p>Chapter 1 Why You Need to Understand the Update to the Nonprofit Reporting Model 1</p> <p>Chapter 2 Why Update the Nonprofit Reporting Model? 3</p> <p>Chapter 3 Highlights of the Major Changes to the Nonprofit Reporting Model 5</p> <p>Chapter 4 What Is the Purpose of Financial Statements? 11</p> <p>Chapter 5 Types of Financial Statements 13</p> <p>Chapter 6 How to Read a Nonprofit Financial Statement 15</p> <p>Chapter 7 Statement of Financial Position 17</p> <p>Chapter 8 Statement of Activities 19</p> <p>Chapter 9 Statement of Cash Flows 23</p> <p>Chapter 10 Statement of Functional Expenses 25</p> <p>Chapter 11 Footnotes to Financial Statements 27</p> <p>Chapter 12 Internal versus External (Audited) Financial Statements 29</p> <p>Chapter 13 The Independent Auditor’s Report 31</p> <p>Chapter 14 Other Types of Auditor Opinions 35</p> <p>Chapter 15 Supplemental Information 37</p> <p>Chapter 16 Reserves 39</p> <p>Chapter 17 Financial Statement Exercises 43</p> <p>Chapter 18 Example Set 1 45</p> <p>Chapter 19 Example Set 2 101</p> <p>Chapter 20 Example Set 3 157</p> <p>Chapter 21 Financial Analysis 223</p> <p>Chapter 22 Benchmarking 227</p> <p>Chapter 23 Increasing Complexity in Nonprofit Financial Reporting 231</p> <p>Chapter 24 Nonprofits Subject to Government Auditing Standards and a Single Audit under the Uniform Guidance 235</p> <p>Glossary Prior to Effective Date of ASU 2016-14 241</p> <p>Glossary Amendments Made upon Adoption of ASU 2016-14 247</p> <p>About the Authors 251</p> <p>Index 255</p>

<p><b>ANDREW S. LANG, CPA,</b> Potomac, MD, is President of LangCPA Consulting. <p><b>WILLIAM D. EISIG, CPA,</b> McLean, VA, is Atlantic Managing Partner BDO USA, LLP and Executive Director of the BDO Institute for Nonprofit Excellence^SM. <p><b>LEE KLUMPP, CPA, CGMA,</b> McLean, VA, is the National Nonprofit & Education Industry Group Audit and Accounting Technical Director at BDO USA, LLP. <p><b>TAMMY RICCIARDELLA, CPA,</b> McLean, VA, is a Director at BDO Institute for Nonprofit Excellence^SM.

<p><b>EXPERT GUIDANCE ON HOW TO READ, INTERPRET, AND USE NONPROFIT FINANCIAL STATEMENTS—UPDATED FOR THE NEW FASB STANDARD RELATED TO NONPROFIT FINANCIAL REPORTING (ASU 2016-14)</b> <p>If you're an executive or volunteer leader at a nonprofit who is unfamiliar with the formats and language of financial statements, this book fills you in on how to read and correctly interpret those critical documents. If you're a seasoned pro who wants to brush up on your skills while familiarizing yourself with the latest FASB nonprofit reporting standards, this is the only guide you need. <p>The intent behind creating the ASU 2016-14 was to improve the clarity and usefulness of nonprofit financial statements, but making sense of those statements can still be tough going for the uninitiated. Accountants and non-accountants alike who use and prepare nonprofit financial statements need guidance on how to interpret and implement the new FASB standard. Written for both audiences, this book: <ul> <li>Clearly defines accounting terminology and concepts, while offering numerous examples of financial statements reflecting both the old and new FASB standards</li> <li>Steers you, line-by-line, through financial reports, providing explanations of differences between the old and new standards</li> <li>Provides numerous illustrations that help you quickly feel at home with the format of nonprofit financial statements</li> <li>Offers exercises that help you gain insight into the concepts surrounding nonprofit financial statements and reinforce your command of those concepts</li> </ul> <p><i>How to Read Nonprofit Financial Statements, Third Edition</i> is an invaluable resource for everyone who reads, interprets, or prepares those all-important documents.

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