Not-for-Profit Entities - AICPA Audit and Accounting Guide

This guide summarizes new standards, guidance, and practices, and delivers "how-to" advice for handling audit and accounting issues common to not-for-profit entities.

Updated with conforming changes as of March 1, 2010, the guide includes relevant guidance contained in official standards and other technical sources, including the FASB Accounting Standards Codification™, the guide offers practical guidance on recent developments in areas such as risk assessment, fair value measurements, and mergers and acquisitions. All content is reviewed by industry experts and approved by the appropriate AICPA senior technical committee(s).

The following new standards are particularly significant to this guide and are reflected in this edition:

· Accounting Standards Update No. 2010-09, Subsequent Events (Topic 855): Amendments to Certain Recognition and Disclosure Requirements

· Accounting Standards Update No. 2010-07, Not-for-Profit Entities (Topic 958): Not-for-Profit Entities: Mergers and Acquisitions

· Accounting Standards Update No. 2010-06, Fair Value Measurements and Disclosures (Topic 820): Improving Disclosures about Fair Value Measurements

· Accounting Standards Update No. 2009-12, Fair Value Measurements and Disclosures (Topic 820): Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent)