27 Sep Financial Reporting Review of a Not-for-Profit Organization
Week 10 – Assignment: Financial Reporting Review of a Not-for-Profit Organization
Overview
Not-for-Profit (NFP) organizations are different from governmental entities in that they lack the authority of law to generate revenues and have greater flexibility in administering their budgets.
Select one NFP organization in an area of interest to you and review their financial statements and audit report. The NFP organization selected must have their financial statements and audit report publicly available on their website.
Instructions
Write a 3–5 page paper in which you do the following:
Determine if the NFP’s statements conform to the FASB guidance, explaining how the selected NFP uses the required fund categories and recommending at least two areas of potential interest to stakeholders concerning the NFP’s revenue and expense status.
Analyze the selected NFP’s financial statements to determine if the statements conform to the Financial Accounting Standards Board (FASB) guidance from Not-for-Profits. (Note: You have to click “Accept” to see the guidance.)
As part of the analysis, explain how the selected NFP organization uses the required fund categories and recommend at least two areas of potential interest to stakeholders concerning the NFP’s revenue and expense status.
Explain the format utilized to prepare the Statement of Cash Flows, pointing out at least two areas of emphasis that differ from GAAP accounting format.
The financial statements of NFP organizations include a Statement of Cash Flows.
Analyze this Statement of Cash Flows in order to explain the format utilized.
Point out any unique areas of emphasis that differ from GAAP accounting format.
Compare the organization’s reporting of pledges and contributions to its reporting of exchange transactions, discussing at least three of the funds used.
NFP organizations report pledges and contributions in addition to reporting exchange transactions.
Assess the fiscal condition of the selected NFP organization, interpreting financial indicators specific to NFPs and financial ratios widely accepted as being indicative of fiscal health.
Use at least three quality sources to support your writing. Choose sources that are credible, relevant, and appropriate. Cite each source listed on your source page at least one time within your assignment. For help with research, writing, and citation, access the library or review library guides.
Produce writing that contains accurate grammar, mechanics, and spelling in accordance with SWS style.
This course requires the use of Strayer Writing Standards. For assistance and information, please refer to the Strayer Writing Standards link in the left-hand menu of your course. Check with your professor for any additional instructions.
The specific course learning outcome associated with this assignment:
Evaluate the financial statements and fiscal condition of a not-for-profit organization relative to financial guidelines.
Our website has a team of professional writers who can help you write any of your homework. They will write your papers from scratch. We also have a team of editors just to make sure all papers are of HIGH QUALITY & PLAGIARISM FREE. To make an Order you only need to click Ask A Question and we will direct you to our Order Page at WriteDemy. Then fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Fill in all the assignment paper details that are required in the order form with the standard information being the page count, deadline, academic level and type of paper. It is advisable to have this information at hand so that you can quickly fill in the necessary information needed in the form for the essay writer to be immediately assigned to your writing project. Make payment for the custom essay order to enable us to assign a suitable writer to your order. Payments are made through Paypal on a secured billing page. Finally, sit back and relax.