CPE Packages (Incl. Ethics) for Multiple States and Qualifications Available. Price $4/credit - CLICK HERE to view.

THE 101 ON NOT-FOR-PROFIT

4.7 (708)

Lucas LaChance

Lane Gorman Trubitt, LLC

Friday, March 05, 2021 | 01:00 PM EDT

  • CIA
  • CMA
  • CPA
  • IAP
  • QIAL

1.5 Credits

FREE

Subject Area

Accounting & Auditing

Webinar Qualifies For

1.5 CPE credit of Accounting & Auditing for all CPAs

1.5 CPE credit for Certified Management Accountants (CMA)

1.5 CPE credit for Certified Internal Auditors (CIA)

1.5 CPE credit for Certified Fraud Examiners (CFEs)

1.5 General Educational credit for Tax Professionals / Bookkeepers / Accountants

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Jul 23, 2021 | 12:30 PM EDT View Details

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business activity taxes – where are businesses and their owners required to file and pay state income taxes?

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Course Description

There is a key difference between for-profit and non-for-profit standards: it is the concept of fund accounting. The concept of fund accounting focuses on accountability and stewardship rather than profitability. For-profit entities have a general ledger, which is a single self-balancing account — while nonprofits typically have a number of general ledgers, or funds.

This accounting framework enables not-for-profit organizations to separate resources into different accounts to identify individual sources of funds and their usage. Further, nonprofit organizations receive many benefits as tax-exempt organizations, they must keep detailed records about contributions, assets, and expenses.

Given this background, it is imperative to understand that Not-for-Profit organizations present a unique set of accounting and governance issues. This webinar will focus on the following topics of fundamentals of NFP organizations:

  • Key definitions
  • Financial statements
  • Governance
  • Revenue recognition
  • In-kind contributions
  • Tax considerations

This webinar would be double the value if you had already attended Revenue Recognition for NFP Organizations from the speaker.

Learning Objectives

  • To identify fundamental terms and concepts specific to NFP organizations
  • To outline a financial statement presentation
  • To explain key aspects of good governance and tax considerations
  • To identify thoroughly revenue recognition concepts for NFPs

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Accounting Managers
  • Accounting Practice Owners
  • Accounts Director
  • Auditors
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Senior Accountant
  • Staff of Accounting Firm
  • Young CPA

Testimonial

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    [no_of_record] => 708
    [average] => 4.6709
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4.7

(708)
70%
28%
2%
0%
0%

KH

Lucas is a very effective presenter. He covers the material extremely well and is very easy to follow and understand. His timing of the presentation was right-on. The comparison of GAAP to tax was presented in an excellent format

DM

Having worked for NFP for over 11 years, I found the presenter and this course extraordinary. Everyone involved with NFP's should take this course, Lucas expertly and effectively presented proper accounting and tax rules for reporting revenue and expenses for Non-Profit Organization Special Events.

CG

Webinar with great content related to nonprofit. Instructor with knowledge and experience in handling the subject. I have personally received information that helps to grow our expertise on this subject. Congratulations.

TO

Lucas was an excellent presenter across all of the areas with perfect cadence tying in the GAAP and tax aspects on fund raising! Look forward to future webinars, His material was well thought out and organized. His illustrations made his topic easy to follow!

MW

The presenter spoke clearly and effectively. He was so easy to listen to and I learned so much. Thank you!

YX

This training is very helpful to refresh the non-profit key concepts.