ssignment 2: Non-for-Profit
Financial Reporting Review
Due Week 9 and worth 240 points
Select one (1) not-for-profit organization in an area of interest to you and
review the financial statements and audit report for the organization. The
financial statements and audit report of the not-for-profit organization should
be readily and publically available on an active Website.
Write a three to five (3-5) page paper in which you:
1.
Analyze the selected not-for-profit’s financial
statements to determine if the statements conform to Financial Accounting
Standards Board (FASB) guidance in Statement No. 117, Financial Statements of
Not-for-Profit Organizations (FASB ASC 958-205-45). Explain the selected
organization’s use of the three (3) fund categories. Recommend at least two (2)
areas of potential interest to the stakeholder concerning the status of revenue
and expenses.
2.
Analyze the organization’s statement of cash flows.
Explain the format that the organization utilizes, including any unique areas
of emphasis that differ from-GAAP accounting format.
3.
Compare the organization’s reporting of pledges and
contributions to its reporting of exchange transactions. Discuss the funds that
are utilized.
4.
Assess the fiscal condition of the selected
organization utilizing and interpreting ?nancial indicators, using ?nancial
ratios that are widely accepted as being indicative of ?scal health. This
assessment should also be expanded to include fund-raising analysis, program
review, contributions, and grant analysis and revenue analysis.
Your assignment must follow these formatting
requirements:
·
Be typed, double spaced, using Times New Roman font
(size 12), with one-inch margins on all sides; citations and references must
follow APA or school-specific format. Check with your professor for any
additional instructions.
·
Include a cover page containing the title of the
assignment, the student’s name, the professor’s name, the course title, and the
date. The cover page and the reference page are not included in the required
assignment page length.
The specific course learning outcomes associated
with this assignment are:
·
Assess the accounting and financial reporting
requirements for not-for-profit organizations.
·
Use technology and information resources to
research issues in government and not-for-profit accounting.
·
Write clearly and concisely about government and
not-for-profit accounting using proper writing mechanics.
