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Introduction To Not–For–Profit Entities
Free Download Introduction To Not–For–Profit Entities
Last updated 5/2024
MP4 | Video: h264, 1280x720 | Audio: AAC, 44.1 KHz
Language: English (US) | Size: 534.56 MB | Duration: 0h 44m
Not For Profit Entities Overview Entity, Accounting and Tax
What you'll learn
Identify the unique aspects of NFPs.
Understand the differences between for-profit entities and NFPs
Recognize the various types of NFPs.
Identify NFP-specific terminology.
Identify the basic financial statement presentation differences between for-profit entities and NFPs.
Requirements
Basic understanding of business environment
Description
Course Overview: This comprehensive course offers a deep dive into the specialized field of accounting, financial reporting, taxation, and governance specifically tailored for not-for-profit entities (NFPs). Designed for professionals transitioning from the for-profit sector, new NFP managers, and accounting practitioners seeking to expand their expertise, this course provides essential knowledge and skills to navigate the unique financial landscapes of NFPs.Course Objectives: Upon successful completion of this course, participants will be able to:Understand and apply the accounting principles and financial reporting practices specific to NFPs.Recognize the tax considerations and compliance requirements affecting tax-exempt NFPs.Identify the governance structures typical to NFPs and understand their impact on organizational practices.Distinguish the significant operational and financial differences between for-profit entities and NFPs.Master the specialized terminology used within the NFP sector.Course Content:Module 1: Introduction to Not-for-Profit EntitiesExplore the role and importance of NFPs in society.Understand the definitions and characteristics of NFPs as outlined by the Financial Accounting Standards Board (FASB).Module 2: Accounting for NFPsLearn about the accounting standards and practices specific to NFPs, including revenue recognition, fund accounting, and reporting of donations and grants.Hands-on exercises in preparing financial statements and handling unique accounting scenarios encountered by NFPs.Module 3: Financial Reporting and ComplianceDetailed analysis of the financial reporting requirements for NFPs.Study of compliance issues and how to maintain tax-exempt status.Module 4: Taxation of Not-for-Profit OrganizationsOverview of federal and state tax regulations applicable to NFPs.Case studies on handling taxable activities and understanding unrelated business income tax (UBIT).Module 5: Governance in NFPsExamination of governance models and best practices in board management and operational oversight.Strategies to enhance transparency and accountability to stakeholders.Module 6: Differences Between For-Profit and Not-for-Profit EntitiesComparative analysis of financial practices between for-profit and NFP sectors.Discussion on the strategic implications of these differences in terms of management and operational focus.Target Audience: This course is ideal for CPAs, financial officers, board members, and managers within the NFP sector, as well as professionals from the for-profit sector looking to transition into non-profit roles.
Who this course is for
This course would be beneficial for: 1. Accounting and finance professionals who are new to the nonprofit sector and want to learn about its specific financial management practices. 2. Professionals who are already working with nonprofit organizations and want to enhance their knowledge and skills in areas such as financial statement presentation, compliance requirements, and NFP reporting standards. 3. Individuals who provide financial advisory or consulting services to nonprofit organizations and want to stay updated on the latest accounting and tax regulations affecting NFPs. 4. Students or recent graduates with an interest in nonprofit accounting and finance who are seeking to gain specialized knowledge in this field. Overall, this course aims to provide valuable insights and practical guidance for accounting and finance professionals looking to support nonprofit organizations in achieving their missions effectively
Homepagehttps://www.udemy.com/course/introduction-to-not-for-profit-entities/
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