Assignment 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:
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.
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.
Compare the organization’s reporting of pledges and
contributions to its reporting of exchange transactions. Discuss the funds that
are utilized.
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.
