Wiley Not-for-Profit GAAP 2008: Interpretation and Application of Generally Accepted Accounting Principles

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John Wiley & Sons, Jan 18, 2008 - Business & Economics - 528 pages
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The most practical, authoritativeguide to not-for-profit GAAP

Wiley Not-for-Profit GAAP 2008 is a comprehensive, easy-to-use guide to the accounting and financial reporting principles used by not-for-profit organizations. It is written with the needs of the financial statement preparer, user, and attestor in mind. It provides a complete review of the authoritative accounting literature that impacts all types of not-for-profit organizations. At the same time, Wiley Not-for-Profit GAAP 2008 features many examples and illustrations that will assist the reader in applying authoritative literature to real-life situations. Wiley Not-for-Profit GAAP 2008 excels in providing financial statement preparers, users, and attestors with the most comprehensive and usable information because of these features:

  • Easy-to-use information that enables the reader to find needed information quickly

  • Coverage of accounting principles specifically related to not-for-profit organizations, as well as accounting principles applicable to all types of organizations

  • Specific coverage of accounting issues for different types of not-for-profit organizations

  • A comprehensive disclosure checklist that helps financial statement preparers and attestors ensure that all disclosures required by GAAP have been considered

  • Many examples and illustrations that make putting accounting theory into practice an easy task

  • This 2008 Edition also includes new information covering:

  • FASB 157, Fair Value Measurements

  • FASB 158, Employer's Accounting for Defined Benefit Pension and Other Post-retirement Plans

  • FASB 159, The Fair Value Option for Financial Assets and Liabilities

  • FIN 48, Accounting for Uncertainty in Income Taxes

  • Update of FASB project on accounting for not-for-profit organization mergers and acquisitions

Wiley Not-for-Profit GAAP 2008 strives to be a thorough, reliable reference that you'll use constantly. It's designed to be kept on your desk rather than on your bookshelf.

 

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Contents

Overview of NotforProfit Organizations
3
Accounting for Specific Types of NotforProfits
195
Chapter Title
200
Religious Organizations other than Churches
206
Principal Federal and State Tax Reporting and Regulatory Require
228
Current Assets and Current Liabilities
287
Inventory
294
LongLived Assets Depreciation and Impairment
303
Accounting for Pensions and Postretirement Benefits
347
LongTerm Liabilities
386
Accounting Changes
405
Accounting for Leases
412
Financial Instruments
447
Capitalization of Interest Costs
456
Disclosure Checklist
462
Index
488

Intangible Assets
317
Business Combinations
336

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Common terms and phrases

About the author (2008)

Richard F. Larkin is technical director of not-for-profit accounting and auditing for BDO Seidman, LLP, in Bethesda, Maryland. Previously he was the technical director of the Not-for-Profit Industry Services Group in the national office of PricewaterhouseCoopers. He is a certified public accountant, bard member, treasurer, and consultant. He teaches, speaks, and writes extensively on not-for-profit industry matters and is active in many professional and industry organizations. He has been a member of the Financial Accounting Standards Board Not-for-Profit Advisory Task Force and the AICPA Not-for-Profit Organizations Committee, and Chaired the AICPA Not-for-Profit Audit Guide Task Force. He participated in both the third and Fourth editions of Standards of Accounting and Financial Reporting for Voluntary Health and Welfare Organizations, and the AICPA Practice Aid, Financial Statement Presentation and Disclosure Practice for Not-for-Profit organizations. He graduated from Harvard College and has an MBA from Harvard Business School. He is a coauthor of the fourth, fifth, and sixth editions of Financial and Accounting Guide for Not-for-Profit Organizations, which were published by John Wiley & Sons Inc.

Marie DiTommaso, CPA, is a partner in the firm of DiTommaso and Ruppel, CPAs, which she cofounded. She has over twenty years of experience in accounting and financial reporting in both the not-for-profit and commercial accounting environments. She began her career with KPMG after graduating from Queens College of the City University of New York. Later in her career, she joined the American Express Company and then Dun & Bradstreet Corporation, both to9 develop, write, and implement accounting policies and procedures. After leaving these corporate organizations, Ms. DiTommaso served as the chief financial officer of a not-for-profit organization.

Ms. DiTommaso is a member of the American Institute of Certified Public Accountants. She has served as President of the Bergen County chapter of the New Jersey Women Business Owners Association, and as an advisor to its Board of Directors.

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