2023 Not-for-Profit Entities - Best Practices in Presentation and Disclosure

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A straightforward picture of GAAP compliance for NFPs.

This valuable resource provides financial statement presentation and disclosure examples illustrating U.S. GAAP compliance for the topics most frequently encountered by preparers of financial statements for NFPs by drawing from the audited financial statements of an assortment of not-for-profit entities (NFPs).

Intended for use as a tool to help you create and verify the format and accuracy of your company's or clients' financial statements, this resource walks you through the most common presentations used by other nonprofits NFPs for challenges such as noncash gifts, donor-imposed restrictions, and functional expenses.

The 2023 edition illustrates the most important, immediate, and challenging disclosures, including:

• Net asset classes and donor-imposed restrictions
• Investments, derivatives, endowments, and UPMIFA
• Liquidity and availability of resources
• Liabilities, including split-interest agreements and pension plans
• Contributions and revenue recognition, including grants, contracts, gifts in kind, interests in trusts, and other receivables
• Analysis of expenses by function and nature
• Fair value measurements and use of estimates
• Income taxes and uncertain tax positions for tax-exempt entities
• Measure of operations and joint costs

Who Will Benefit

Small-to medium-sized firms and not-for-profit entities

Key Topics

• With this resource in your toolkit, you'll save yourself the hours of research required to find out how other NFPs have reported certain elements in their financial statements. We've collected and compiled this comprehensive tool to offer you:
• Real-world examples of audited NFP financial statements
• Illustrative disclosures that follow the latest FASB accounting standards effective for NFPs
• Sample presentations that show variations in practice when permissible under GAAP