Financial and Accounting Guide for Not-for-Profit Organizations, 2004 Cumulative Supplement (FINANCIAL AND ACCOUNTING GUIDE FOR NOT FOR PROFIT ORGANIZATIONS CUMULATIVE SUPPLEMENT)

The 2004 Cumulative Supplement includes:

• A summary of the FASB Statements that have been issued since the 2003 Cumulative Supplement.
• A summary of the major provisions of the Sarbanes-Oxley Act in the Appendix of Chapter 26.
• Information on the Statement on Auditing Standards (SAS) No. 99, Consideration of Fraud in a Financial Statement Audit issued by the AICPA.
• Information on final regulations for the disclosure of "reportable transactions" issued by the U.S. Treasury Department.

Malvern J. Gross Jr. was the author of the original Financial and Accounting Guide for Not-for-Profit Organizations and many of the earlier editions. He is a retired partner of Price Waterhouse and a nationally recognized authority on accounting and financial reporting for not-for-profit organizations. He was chairman of the American Institute of Certified Public Accountants (AICPA) Subcommittee on Nonprofit Organizations that wrote the 1978 landmark Statement of Position for Certain Nonprofit Organizations, and of the Accounting Advisory Committee to the Commission on Private Philanthropy and Public Needs. Hewas a member of the committee that wrote the second edition of Standards of Accounting and Financial Reporting for Voluntary Health and Welfare Organizations, and a co-author of the Museum Accounting Handbook. He served as an advisor to the Financial Accounting Standards Board in the early phases of its work on setting accounting standards for not-for-profit organizations, and to the New York State Charities Registration Office, as well as an adjunct professor of accounting at Lehigh University, his alma mater. After retirement from Price Waterhouse (now PricewaterhouseCoopers), he was president of a not-for-profit organization, the National Aeronautics Association. He now lives in the San Juan Islands in the state of Washington.

Richard F. Larkin was a co-author of the fourth, fifth, and sixth edition of Financial and Accounting Guide for Not-for-Profit Organizations. Prior to his retirement from the firm, he was the technical director in the not-for-profit industry services group in the national office of PricewaterhouseCoopers LLP. A Certified Public Accountant (CPA) with more than 30 years of experience, he served a wide variety of not-for-profit organizations as independent accountant, board member, treasurer, and consultant. While at PricewaterhouseCoopers, his professional memberships included the Financial Accounting Standards Board Not-for-Profit Advisory Task Force, the AICPA Not-for-Profit Organizations Committee, the Evangelical Joint Accounting Committee, and the AICPA Not-for-Profit Audit Guide Task Force (chair). He has served as a member of the governing boards of several not-for-profit organizations. He is the author of Financial Statement Presentation and Disclosure Practices for Not-for-Profit Organizations (published by the AICPA), as well as numerous articles. He graduated from Harvard College and has an MBA from Harvard Business School.

John H. McCarthy is PricewaterhouseCoopers Global Education Practice Leader. He is the co-author of the sixth edition of Financial and Accounting Guide for Not-for-Profit Organizations. He also is the co-author of Understanding Financial Statements: A Strategic Guide for Independent College & University Boards, published by the Association of Governing Boards of Universities and Colleges, as well as several articles and monographs. His most recent publications are “The Substance of Transparency: The Sarbanes–Oxley Act,” which was published in the February 2003 edition of the NACUBO Business Officer magazine, and Understanding Underwater Endowment Funds, which was published in 2003 by PricewaterhouseCoopers. He is a CPA who, for more than 35 years, has served PricewaterhouseCoopers’ education and not-for-profit clients, including many of the most prestigious institutions in the United States. He currently serves on several not-for-profit boards. He is a past president of the Massachusetts Society of CPAs, Inc. (MSCPA) and a two-term member of the Governing Council of the AICPA. He has received numerous honors for his involvement in the community. He graduated from Boston College and has an MBAfrom the University of Michigan Business School.

Sandra L. Johnson is the National Director of Marketing and Knowledge Management in PricewaterhouseCoopers Education & Nonprofit Practice. Sandra oversees content on PricewaterhouseCoopers’ education and not-for-profit Web site, as well as on The CFOdirect Network, which is PwC’s online news source for senior financial executives. She also manages internal knowledge management, communications, training programs, and a broad range of activities related to PricewaterhouseCoopers’ education and not-for-profit practice. She is the author of several books and articles on issues affecting colleges, universities, and other types of not-for-profit organizations. Her publications include the Reinventing the University series that was published by John Wiley & Sons, Inc. Other recent publications on which she served as the author, co-author, or editor are Developing a Strategy to Manage Enterprisewide Risk in Higher Education, which was published in 2001 by NACUBO, and “Applying Corporate Knowledge Management Practices in Higher Education,” a chapter in Information Alchemy: The Art and Science of Knowledge Management, which was published in 2001 by Jossey-Bass, Inc. and EDUCAUSE. She is a CPA and she holds a BS from Boston University’s School of Public Communications and an MBA from the Simmons College Graduate School of Management.