Non for Profit Financial Reporting Review accounting homework help
Select one (1) not-for-profit organization in an area of interest to you and review the financial statements and audit report for the organization. The financial statements and audit report of the not-for-profit organization should be readily and publicly available on an active Website.
Write a three to five (3-5) page paper in which you:
- Analyze the selected not-for-profitâ€™s financial statements to determine if the statements conform to Financial Accounting Standards Board (FASB) guidance in Statement No. 117, Financial Statements of Not-for-Profit Organizations (FASB ASC 958-205-45). Explain the selected organizationâ€™s use of the three (3) fund categories. Recommend at least two (2) areas of potential interest to the stakeholder concerning the status of revenue and expenses.
- Analyze the organizationâ€™s statement of cash flows. Explain the format that the organization utilizes, including any unique areas of emphasis that differ from-GAAP accounting format.
- Compare the organizationâ€™s reporting of pledges and contributions to its reporting of exchange transactions. Discuss the funds that are utilized.
- Assess the fiscal condition of the selected organization utilizing and interpreting ï¬nancial indicators, using ï¬nancial ratios that are widely accepted as being indicative of ï¬scal health. This assessment should also be expanded to include fund-raising analysis, program review, contributions, and grant analysis and revenue analysis.