The 2016 edition provides assistance in the unique preparation, auditing, accounting and reporting of financial statements for not-for-profit entities. This edition includes guidance on reporting donated services between affiliated NFPs, split-interest agreements, contributions and grants, functional expenses and joint costs, and much more. Key Benefits: Properly report complex revenue and expense transactions that have a material effect on financial reporting; Gain an understanding of the accounting issues that are unique to NFPs, such as donor restrictions on contributions; Understand the unique audit areas in NFPs and how to address the risk of material misstatement; Properly account for the relationships between NFPs and other entities; Understand the disclosure requirements related to reporting transactions that are common to NFPs. Updates: FASB ASU No. 2013-06, Not-for-Profit Entities (Topic 958): Services Received from Personnel of an Affiliate (a consensus of the FASB Emerging Issues Task Force); FASB ASU No. 2014-04, Receivables-Troubled Debt Restructurings by Creditors (Subtopic 310-40): Reclassification of Residential Real Estate Collateralized Mortgage Loans upon Foreclosure (a consensus of the FASB Emerging Issues Task Force); FASB ASU No. 2014-08, Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity; FASB ASU No. 2015-10, Technical Corrections and Improvements.
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Founded in 1887, the American Institute of Certified Public Accountants (AICPA) represents the CPA and accounting profession nationally and globally regarding rule-making and standard-setting, and serves as an advocate before legislative bodies, public interest groups and other professional organizations. The AICPA develops standards for audits of private companies and other services by CPAs; provides educational guidance materials to its members; develops and grades the Uniform CPA Examination; and monitors and enforces compliance with the accounting profession's technical and ethical standards.
The AICPA's founding established accountancy as a profession distinguished by rigorous educational requirements, high professional standards, a strict code of professional ethics, a licensing status and a commitment to serving the public interest.
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Book Description American Institute of Certified Public Accountants, Inc, New York, 2016. Soft cover. Book Condition: Very Good. AICPA Audit and Accounting Guide. Bookseller Inventory # 003294