What you'll learn:
- Evaluate the unique characteristics of not-for-profit organizations, including their legal structure, funding sources, and mission-driven nature.
- Analyze the accounting principles specific to not-for-profit entities, such as fund accounting, revenue recognition, and expense allocation.
- Differentiate between non-governmental and governmental not-for-profit organizations, understanding the key distinctions in financial reporting and compliance
- Apply generally accepted accounting principles (GAAP) to record transactions accurately and prepare financial statements for not-for-profit organizations.
- Compare and contrast the accounting practices in not-for-profit colleges, including both non-governmental and governmental institutions, to gain insights into t
- Evaluate the regulatory framework and tax considerations applicable to not-for-profit organizations, ensuring compliance and understanding the impact on financi
- Interpret financial statements of not-for-profit organizations, including the statement of financial position, statement of activities, and statement of cash fl
- Apply critical thinking skills to analyze complex not-for-profit accounting scenarios, considering ethical considerations and making informed judgments.
- Communicate effectively about not-for-profit accounting concepts, financial statements, and analysis results to stakeholders, employing clear language
Not for Profit Accounting-Charities, Colleges, & Health Care will cover accounting principles related to not for profit organizations.
Our concentration will be on nongovernmental not-for-profit organizations. However, we will discuss the differences between nongovernmental not for profit organization and governmental not-for-profit organizations. We will also discuss accounting concepts for both governmental and nongovernmental organizations related to health care and colleges.
The course will start by introducing what a not for profit organization is. We will discuss regulation, taxation, and performance issues related to the not for profit organization. As we discuss accounting for not for profit organization, we will make comparisons to for profit organizations, concentrating most of our time on the areas where accounting concepts differ between the two.
Next, we will get into the details of accounting for not for profit organizations, discussing generally accepted accounting principles and the recording of transactions.
We will then take a look at example problems, recoding transactions related to a not for profit organization. We will work through example problems in a presentation format. We will then provide Excel worksheets and step by step instructional videos for learners to apply what they have learned. The Excel worksheets will include two tabs, one with the completed answer, and a second with preformatted worksheets. Learners can enter data into the preformatted worksheets in a step by step process following instructional videos.
Next, we will discuss colleges and universities in detail. We compare and contrast governmental not-for-profit colleges and universities as well as nongovernmental not-for-profit colleges. We will also discuss for-profit colleges.
The course will present example problems in a presentation format and will then provide Excel worksheet and instructional videos so that learners can apply what they have learned.
Next, we will discuss health care organizations in detail. We will consider both governmental health care organizations and nongovernmental health care organizations. The course will present example problems and will then provide practice Excel worksheet and step by step instructional videos so learners can apply what they have learned.
