Wiley Not-for-Profit GAAP 2009: Interpretation and Application of Generally Accepted Accounting Principles
Wiley Not-for-Profit GAAP annual is a comprehensive accounting and financial reporting guide for use by not-for-profit organizations and their auditors in preparing financial statements in accordance with generally accepted accounting principles (GAAP). The Financial Accounting Standards Board (FASB) defines nonprofit organizations as entities that possess the following characteristics not typically found in business enterprises: 1) They receive contributions of significant resources from resource providers who do not expect a commensurate or proportionate monetary return. 2) They operate for purposes other than to make a profit and 3) There is an absence of ownership interests like those of business enterprises.
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Overview of NotforProfit Organizations
Accounting for Specific Types of NotforProfits
Research and Scientific Organizations
accepted accounting principles accounting principles AICPA allocated amortization apply assets and liabilities Audit Risk beneficiary benefit obligation budget capital carrying amount carrying value cash flows classified contributions debt December 31 depreciation derivative instruments determine disclosed Disclosure Requirements donor endowment fund entity equity method estimated example expenses factors fair value financial position financial statements financing lease fixed assets for-profit fund-raising GAAP ganization gift impairment intangible asset interest interim periods investment income lessee lessor long-term ments NFP Audit Guide not-for not-for-profit organization notes operating activities organiza permanently restricted PERSPECTIVE AND ISSUES plan assets pledge present value purchase purpose received recipient organization recognized recorded revenue separate SFAS 87 SFAS 95 specified split-interest agreements statement of activities statement of financial temporarily restricted tion transactions unrestricted net assets x,xxx x.xxx x.xxx x.xxx xxx xxx xxx