Ensure that your not-for-profit accounting is airtight for 2020Not-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 organizationWith 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.

Preface viiAbout the Authors ixNot-for-Profit Accounting Literature xiPart 1 Overview of Not-for-Profit Organizations 1Chapter 1 Overview of Not-for-Profit Organizations 3Chapter 2 Cash versus Accrual-Basis Accounting 11Part 2 Basic Financial Statements 21Chapter 3 Statement of Financial Position 23Chapter 4 Statement of Activities 31Chapter 5 Statement of Cash Flows 39Chapter 6 Other Financial Statement Issues 55Part 3 Specific Not-for-Profit Accounting Topics 73Chapter 7 Fund Accounting 75Chapter 8 Net Assets 87Chapter 9 Contributions, Pledges, Noncash Contributions, and Exchange Transactions 97Chapter 10 Investments 143Chapter 11 Affiliated Organizations 163Chapter 12 Split-Interest Agreements 185Chapter 13 Fundraising and Joint Costs 195Chapter 14 Functional Reporting 209Chapter 15 Collections 215Part 4 Other Accounting-Related Not-for-Profit Topics 219Chapter 16 Accounting for Specific Types of Not-for-Profits 221Chapter 17 Importance of Budgets to a Not-for-Profit 235Chapter 18 Principal Federal and State Tax Reporting and Regulatory Requirements 253Part 5 General Accounting Topics Applied to Not-for-Profit Organizations 315Chapter 19 Current Assets and Current Liabilities 317Chapter 20 Inventory 325Chapter 21 Long-Lived Assets, Depreciation, and Impairment 333Chapter 22 Intangible Assets 345Chapter 23 Contingencies 355Chapter 24 Mergers and Acquisitions 371Chapter 25 Accounting for Pensions and Postretirement Benefits 385Chapter 26 Long-Term Liabilities 423Chapter 27 Accounting Changes 441Chapter 28 Accounting for Leases 447Chapter 29 Financial Instruments 485Chapter 30 Capitalization of Interest Costs 497Appendix: Disclosure Checklist 503Index 533