{"product_id":"how-to-read-nonprofit-financial-statements-isbn-9781118976692","title":"How to Read Nonprofit Financial Statements","description":"\u003cp\u003e\u003cb\u003eEXPERT GUIDANCE ON HOW TO READ, INTERPRET, AND USE NONPROFIT FINANCIAL STATEMENTS—UPDATED TO INCLUDE THE NEW FASB STANDARD FOR NONPROFIT FINANCIAL REPORTING\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWhether you’re a nonprofit executive unfamiliar with the language of financial statements or a seasoned pro, this book is the only guide you’ll need to correctly interpret those critical documents, refresh your skills and familiarize yourself with the new FASB nonprofit reporting standards.\u003c\/p\u003e \u003cp\u003eThe intent behind the recent FASB accounting standards update was to improve the clarity and usefulness of nonprofit financial statements. But making sense of those statements can still be tough for the uninitiated. Accountants and non-accountants who use and prepare nonprofit financial statements need guidance on how to interpret and implement these new FASB standards. Written for both audiences, this book:\u003c\/p\u003e \u003cul\u003e \u003cli\u003eClearly defines accounting terminology and concepts, while offering numerous examples of financial statements reflecting both the old and new FASB standards\u003c\/li\u003e \u003c\/ul\u003e \u003cul\u003e \u003cli\u003eSteers you, line-by-line, through financial reports, providing in-depth explanations of the differences between the old and new standards\u003c\/li\u003e \u003c\/ul\u003e \u003cul\u003e \u003cli\u003eProvides numerous illustrations to help you quickly feel at home with the format of nonprofit financial statements\u003c\/li\u003e \u003c\/ul\u003e \u003cul\u003e \u003cli\u003eOffers exercises to help you gain insight into the core concepts of nonprofit financial statements and reinforce your command of those concepts\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eIn addition to the new FASB standards, this expanded edition includes:\u003c\/p\u003e \u003cul\u003e \u003cli\u003eA new chapter on reserves, a long-standing challenge for nonprofits\u003c\/li\u003e \u003c\/ul\u003e \u003cul\u003e \u003cli\u003eA new section on general financial analysis, outlining what financial statement readers should look for to stay informed and satisfy their responsibility regardless of their role\u003c\/li\u003e \u003c\/ul\u003e \u003cul\u003e \u003cli\u003eA new chapter on benchmarking to help nonprofits measure performance against industry peers\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003e\u003ci\u003eHow to Read Nonprofit Financial Statements, Third Edition \u003c\/i\u003eis an invaluable resource for anyone who reads, interprets, or prepares these all-important documents.\u003c\/p\u003e \u003cp\u003ePreface vii\u003c\/p\u003e \u003cp\u003eLearning Objectives ix\u003c\/p\u003e \u003cp\u003eIntroduction xi\u003c\/p\u003e \u003cp\u003eChapter 1 Why You Need to Understand the Update to the Nonprofit Reporting Model 1\u003c\/p\u003e \u003cp\u003eChapter 2 Why Update the Nonprofit Reporting Model? 3\u003c\/p\u003e \u003cp\u003eChapter 3 Highlights of the Major Changes to the Nonprofit Reporting Model 5\u003c\/p\u003e \u003cp\u003eChapter 4 What Is the Purpose of Financial Statements? 11\u003c\/p\u003e \u003cp\u003eChapter 5 Types of Financial Statements 13\u003c\/p\u003e \u003cp\u003eChapter 6 How to Read a Nonprofit Financial Statement 15\u003c\/p\u003e \u003cp\u003eChapter 7 Statement of Financial Position 17\u003c\/p\u003e \u003cp\u003eChapter 8 Statement of Activities 19\u003c\/p\u003e \u003cp\u003eChapter 9 Statement of Cash Flows 23\u003c\/p\u003e \u003cp\u003eChapter 10 Statement of Functional Expenses 25\u003c\/p\u003e \u003cp\u003eChapter 11 Footnotes to Financial Statements 27\u003c\/p\u003e \u003cp\u003eChapter 12 Internal versus External (Audited) Financial Statements 29\u003c\/p\u003e \u003cp\u003eChapter 13 The Independent Auditor’s Report 31\u003c\/p\u003e \u003cp\u003eChapter 14 Other Types of Auditor Opinions 35\u003c\/p\u003e \u003cp\u003eChapter 15 Supplemental Information 37\u003c\/p\u003e \u003cp\u003eChapter 16 Reserves 39\u003c\/p\u003e \u003cp\u003eChapter 17 Financial Statement Exercises 43\u003c\/p\u003e \u003cp\u003eChapter 18 Example Set 1 45\u003c\/p\u003e \u003cp\u003eChapter 19 Example Set 2 101\u003c\/p\u003e \u003cp\u003eChapter 20 Example Set 3 157\u003c\/p\u003e \u003cp\u003eChapter 21 Financial Analysis 223\u003c\/p\u003e \u003cp\u003eChapter 22 Benchmarking 227\u003c\/p\u003e \u003cp\u003eChapter 23 Increasing Complexity in Nonprofit Financial Reporting 231\u003c\/p\u003e \u003cp\u003eChapter 24 Nonprofits Subject to Government Auditing Standards and a Single Audit under the Uniform Guidance 235\u003c\/p\u003e \u003cp\u003eGlossary Prior to Effective Date of ASU 2016-14 241\u003c\/p\u003e \u003cp\u003eGlossary Amendments Made upon Adoption of ASU 2016-14 247\u003c\/p\u003e \u003cp\u003eAbout the Authors 251\u003c\/p\u003e \u003cp\u003eIndex 255\u003c\/p\u003e  \u003cp\u003e\u003cb\u003eANDREW S. LANG, CPA,\u003c\/b\u003e Potomac, MD, is President of LangCPA Consulting. \u003c\/p\u003e\u003cp\u003e\u003cb\u003eWILLIAM D. EISIG, CPA,\u003c\/b\u003e McLean, VA, is Atlantic Managing Partner BDO USA, LLP and Executive Director of the BDO Institute for Nonprofit Excellence\u003csup\u003eSM\u003c\/sup\u003e. \u003c\/p\u003e\u003cp\u003e\u003cb\u003eLEE KLUMPP, CPA, CGMA,\u003c\/b\u003e McLean, VA, is the National Nonprofit \u0026amp; Education Industry Group Audit and Accounting Technical Director at BDO USA, LLP. \u003c\/p\u003e\u003cp\u003e\u003cb\u003eTAMMY RICCIARDELLA, CPA,\u003c\/b\u003e McLean, VA, is a Director at BDO Institute for Nonprofit Excellence\u003csup\u003eSM\u003c\/sup\u003e.    \u003c\/p\u003e\u003cp\u003e\u003cb\u003eEXPERT GUIDANCE ON HOW TO READ, INTERPRET, AND USE NONPROFIT FINANCIAL STATEMENTS—UPDATED FOR THE NEW FASB STANDARD RELATED TO NONPROFIT FINANCIAL REPORTING (ASU 2016-14)\u003c\/b\u003e \u003c\/p\u003e\u003cp\u003eIf you're an executive or volunteer leader at a nonprofit who is unfamiliar with the formats and language of financial statements, this book fills you in on how to read and correctly interpret those critical documents. If you're a seasoned pro who wants to brush up on your skills while familiarizing yourself with the latest FASB nonprofit reporting standards, this is the only guide you need. \u003c\/p\u003e\u003cp\u003eThe intent behind creating the ASU 2016-14 was to improve the clarity and usefulness of nonprofit financial statements, but making sense of those statements can still be tough going for the uninitiated. Accountants and non-accountants alike who use and prepare nonprofit financial statements need guidance on how to interpret and implement the new FASB standard. Written for both audiences, this book: \u003c\/p\u003e\u003cul\u003e \u003cli\u003eClearly defines accounting terminology and concepts, while offering numerous examples of financial statements reflecting both the old and new FASB standards\u003c\/li\u003e \u003cli\u003eSteers you, line-by-line, through financial reports, providing explanations of differences between the old and new standards\u003c\/li\u003e \u003cli\u003eProvides numerous illustrations that help you quickly feel at home with the format of nonprofit financial statements\u003c\/li\u003e \u003cli\u003eOffers exercises that help you gain insight into the concepts surrounding nonprofit financial statements and reinforce your command of those concepts\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003e\u003ci\u003eHow to Read Nonprofit Financial Statements, Third Edition\u003c\/i\u003e is an invaluable resource for everyone who reads, interprets, or prepares those all-important documents.\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47989382676709,"sku":"NP9781118976692","price":47.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9781118976692.jpg?v=1761783895","url":"https:\/\/k12savings.com\/es\/products\/how-to-read-nonprofit-financial-statements-isbn-9781118976692","provider":"K12savings","version":"1.0","type":"link"}