Not-for-Profit Financial Reporting: Mastering the Unique Requirements

Through a combination of practical guidance and case studies, the author provides insight into what makes not-for-profits different. Updated for revenue recognition, grants and contracts, and financial reporting, this book offers guidance on FASB's new financial statement standard and revenue recognition standard which will have a major impact on financial reporting for not for profits.  It helps answer the questions: Are you aware of how not-for-profit financial statements will change because of FASB's Financial Statement Standard? Do you know what makes not-for-profit accounting and financial reporting different?

Key topics include:

• Grants and contracts
• Expense reporting
• NFP financial statement standard
• Revenue recognition
• Performance measures

Bruce W. Chase, PhD, is professor of accounting at Radford University. He is also the Director of the University's Governmental and Nonprofit Assistance Center (GNAC). The GNAC provides support for the Government Finance Officers Association (GFOA) national Certified Public Finance Officer (CPFO) program. Prior to joining the faculty of Radford University, he spent over 15 years in governmental and nonprofit accounting.  He began his career with the Auditor of Public Accounts and then with Coopers and Lybrand.  He served as Treasurer of Virginia Commonwealth University and later as chief financial officer of Southern Seminary College. He has written numerous articles on governmental and nonprofit accounting and is a frequent speaker on these topics. He has authored two national educational courses dealing with governmental and nonprofit accounting for the American Institute of Certified Public Accountants (AICPA). He also does extensive training on governmental accounting and reporting issues.