Wiley Not-For-Profit GAAP 2020: Interpretation and Application of Generally Accepted Accounting Principles - Paperback

by Richard F. Larkin (Author), Marie Ditommaso (Author), Warren Ruppel (Author)

Ensure that your not-for-profit accounting is airtight for 2020

Not-for profit organizations have unique characteristics, so they must adhere to a specific set of generally accepted accounting principles (GAAP). Wiley Not-For-Profit GAAP 2020 provides practical guidance on how to identify and apply the relevant standards. This guide is indispensable for professionals responsible for preparing and auditing not-for-profit accounts. You will learn how to interpret the relevant accounting principles and how to apply them, all while minimizing unnecessary effort and eliminating potentially costly errors.

This comprehensive yet concise text thoroughly examines the latest standards for measurement, presentation, and disclosure related to not-for-profits. It covers the Financial Accounting Standards Board (FASB) Accounting Standards Codification, all relevant Accounting Standards Updates, and other guidance that applies to not-for-profit organizations, particularly that of the American Institute of Certified Public Accountants (AICPA). With this unrivalled reference tool, your not-for-profit GAAP questions are answered.

• Easily understand the latest not-for-profit GAAP with visual aids, including flowcharts, diagrams, and illustrations
• Navigate complex requirements and ensure completeness of GAAP disclosures
• Stay current with all not-for-profit accounting pronouncements, including FASB, AICPA, and more
• Enjoy practical, user-friendly guidance on applying the relevant accounting standards in your not-for-profit organization

With Wiley Not-For-Profit GAAP 2020, you can be assured you have the most current, comprehensive accounting information that applies to nonprofit organizations. Stay in compliance and ensure timely, accurate reporting with this authoritative volume.

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The most practical, authoritative guide to Not-for-Profit GAAP

Wiley Not-for-Profit GAAP 2020 is a comprehensive, easy-to-use guide to the accounting and financial reporting principles used by not-for-profit organizations. It is written with the needs of the financial statement preparer, user, and attestor in mind, and provides a complete review of the authoritative accounting literature that impacts all types of not-for-profit organizations.

At the same time, Wiley Not-for-Profit GAAP 2020 features many examples and illustrations that will assist the reader in applying the principles to real-life situations. Key features include:

• Easy-to-use information that enables readers to find what they need quickly
• Coverage of accounting principles specifically related to not-for-profit organizations, as well as accounting principles applicable to organizations of all kinds
• Coverage of accounting issues affecting different types of not-for-profit organizations
• A comprehensive disclosure checklist that helps financial statement preparers and attestors ensure that all disclosures required by GAAP have been considered
• Many examples and illustrations that make it easy to put accounting theory into practice

This 2020 Edition includes new information covering:

• The definition of a public business entity
• Applicability of the FASB Private Company Accounting Framework to Not-for-Profits
• Service concession arrangements
• Revenue contracts with customers

Wiley Not-for-Profit GAAP 2020 is a thorough and reliable reference which is designed to be kept on your desk, rather than on the shelf.

Author Biography

Richard F. Larkin, CPA (Bethesda, MD) is technical director of not-for-profit accounting and auditing for Long Group, Chartered, in Bethesda, Maryland. He is a certified public accountant with over 35 years of experience serving not-for-profit organizations. He teaches, speaks, and writes extensively on not-for-profit industry matters.