Financial Reporting Review of a Not-for-Profit Organization.
Select one not-for-profit organization in an area of interest to you and review the financial statements and audit reports for the organization.
Analyze the selected not-for-profit’s financial statements to determine if the statements conform to the Financial Accounting Standards Board (FASB) guidance in Financial Statements of Not-for-Profit Organizations.
Explain the selected organization’s use of the three fund categories.
Recommend at least two areas of potential interest to the stakeholder concerning the status of revenue and expenses.
Analyze the organization’s statement of cash flows.
Explain the format that the organization utilizes, including any unique areas of emphasis that differ from the GAAP accounting format.
Compare the organization’s reporting of pledges and contributions to reporting of exchange transactions. Discuss the funds that are used.
Assess the fiscal condition of the selected organization, interpreting financial indicators and using financial ratios widely accepted as being indicative of fiscal health.
Expand the assessment to include fundraising analysis, program review, contributions, and grant and revenue analyses.