Assignment 2: Non-for-Profit Financial Reporting Review
Assignment 2:
Non-for-Profit Financial Reporting Review
Due Week 9 and worth 240 points
Select one (1) not-for-profit organization in an area of interest to you and
review the financial statements and audit report for the organization. The
financial statements and audit report of the not-for-profit organization should
be readily and publically available on an active Website.
Write a three to five (3-5) page paper in which you:
1.
Analyze
the selected not-for-profit’s financial statements to determine if the
statements conform to Financial Accounting Standards Board (FASB) guidance in
Statement No. 117, Financial Statements of Not-for-Profit Organizations (FASB
ASC 958-205-45). Explain the selected organization’s use of the three (3) fund
categories. Recommend at least two (2) areas of potential interest to the
stakeholder concerning the status of revenue and expenses.
2.
Analyze
the organization’s statement of cash flows. Explain the format that the
organization utilizes, including any unique areas of emphasis that differ
from-GAAP accounting format.
3.
Compare
the organization’s reporting of pledges and contributions to its reporting of
exchange transactions. Discuss the funds that are utilized.
4.
Assess
the fiscal condition of the selected organization utilizing and interpreting
?nancial indicators, using ?nancial ratios that are widely accepted as being
indicative of ?scal health. This assessment should also be expanded to include
fund-raising analysis, program review, contributions, and grant analysis and
revenue analysis.
Your assignment
must follow these formatting requirements:
Be typed, double spaced, using Times New
Roman font (size 12), with one-inch margins on all sides; citations and
references must follow APA or school-specific format. Check with your professor
for any additional instructions.
Include a cover page containing the title
of the assignment, the student’s name, the professor’s name, the course
title, and the date. The cover page and the reference page are not
included in the required assignment page length.
The specific
course learning outcomes associated with this assignment are:
Assess the accounting and financial
reporting requirements for not-for-profit organizations.
Use technology and information resources to
research issues in government and not-for-profit accounting.
Write clearly and concisely about
government and not-for-profit accounting using proper writing mechanics
