Not-for-Profit Certificate II - Financial Reporting

Not-for-Profit Certificate II – Financial Reporting: Available as an individual track or as a part of the full Not-for-Profit Certificate II Program.

Essential skills to help you prepare financial statements accurately

Part of our comprehensive Not-for-Profit Certificate II Program, this Not-for-Profit Certificate II – Financial Reporting track helps you learn the requirements to prepare financial statements unique to NFPs.

You’ll learn to determine whether consolidation is required and analyze a set of not-for-profit financial statements.

Key financial statements covered include:

• Statement of financial position (SFP)
• Statement of activities (SoA)
• Statement of cash flows (SCF)
• Statement of functional expenses (SFE)

Innovative learning opportunities

A flexible learning approach allows you to complete learning anytime, anywhere with this convenient format. You’ll gain a rich understanding of financial reporting requirements using realistic scenarios.

You'll delve into the specific impacts of transactions and the distinctive challenges faced by not-for-profit organizations while participating in interactive learning exercises that mimic a real-world workplace and offer instant feedback.

Spotlighting your accomplishments online

You can earn a digital badge by successfully completing the comprehensive Not-for-Profit Certificate II Program or all three of the Not-for-Profit Certificate II tracks.

• Not-for-Profit Certificate II - Financial Reporting covers techniques to prepare and analyze an NFP's financial statements and assess the NFP’s relationships with other NFP and for-profit organizations for reporting and consolidation.

• Not-for-Profit Certificate II - Tax Compliance covers techniques to prepare an exempt organization's IRS Form 990, and identify unrelated business income tax liabilities, and common exceptions or exclusions to reduce tax liability.

• Not-for-Profit Certificate II - Governance and Assurance covers techniques to measure performance, create a budget and drive the strategic planning process to achieve mission success.

You can showcase the digital badge anywhere on the web, including on your:

• LinkedIn profile,
• company’s website, or
• online Resume.

Your certificate and digital badge information will be sent to you once you've completed the program.

Who Will Benefit

• Accounting and finance professionals responsible for accounting and financial reporting for not-for-profits
• Auditors of not-for-profits

Key Topics

• Financial statement preparation
• Programmatic investments
• Consolidated financial statements
• Direct versus indirect cash flow statements
• Analysis of financial statements
• Presentation options available to NFPs
• Common errors in NFP accounting and financial reporting

Learning Outcomes

• Determine how to prepare, in accordance with accordance with Generally Accepted Accounting Principles (GAAP), a statement of financial position (SFP).
• Identify the most appropriate financial statement format, considering the complexity of the entity.
• Identify the effect of donor-imposed restrictions on the reporting of revenues in the Statement of Activities (SoA).
• Differentiate between those transactions reported on the face of the financial statements and those in the notes to the financial statements (or both).
• Apply ratio and trend analysis to NFP financial statements.
• Identify how a not-for-profit (NFP) entity evaluates another NFP or for-profit entity for consolidation.