Not-for-Profit Certificate I + Not-for-Profit Entities - Audit and Accounting Guide

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The practical guidance you need.

Whether you’re already an expert in not-for-profit (NFP) audit and accounting standards or just getting started, this guide has the practical guidance you need for nongovernmental NFP entities. The intuitive format of this guide is based on common errors and questions, making it an essential reference that will assist you with the distinctive aspects of accounting, financial statement preparation, and auditing for NFP entities.

Recent updates

This edition of the guide includes recent updates for:

• SAS No. 145, Understanding the Entity and Its Environment and Assessing the Risks of Material Misstatement
• SAS No. 146, Quality Management for an Engagement Conducted in Accordance With Generally Accepted Auditing Standards
• FASB ASU No. 2023-08, Intangibles — Goodwill and Other — Crypto Assets (Subtopic 350-60), Accounting for and Disclosure of Crypto Assets
• FASB ASU No. 2025-05, Financial Instruments — Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets

Key Topics

• NFP audit planning, risk assessment, reports, and other audit considerations
• Financial statements, the reporting entity, and general financial reporting matters
• Contributions received and agency transactions
• Split-interest agreements and beneficial interests in trusts
• Programmatic investments
• Revenues and receivables from exchange transactions
• Tax and regulatory considerations
• Fund accounting

Who Will Benefit

• Preparers of not-for-profit financial statements
• Auditors of not-for-profit financial statements
• Users of not-for-profit financial statements

Building a strong foundation for your nonprofit skills

If you work for or with a nonprofit and would like to build or refresh your knowledge of not-for-profit (NFP) financial concepts, this unique CPE program gives you the thorough grounding you’re looking for.

You’ll make a meaningful impact in the NFP sector by gaining insights into the unique financial and accounting practices specific to NFPs. By learning how to navigate the complexities of regulatory requirements and develop strategies for effective financial management, you’ll enhance your skills, broaden your expertise, and position yourself as a knowledgeable professional in the NFP sector. As such, you can open doors to new career opportunities and advancement by taking the next step in your professional journey!

Innovative and dynamic learning

You can complete learning anytime, anywhere with this convenient format that allows you to take a closer look at tax, accounting, auditing and governance issues using real-world scenarios.

Spotlight your accomplishment online

You can earn a digital badge by successfully completing the comprehensive Not-for-Profit Certificate I Program or all four of the Not-for-Profit Certificate I tracks:

• Not-for-Profit Certificate I - Introduction to Not-for-Profit Entities provides an overview of the unique aspects of accounting, financial reporting, governance, and tax compliance issues that apply to NFPs.

• Not-for-Profit Certificate I - Accounting and Financial Reporting Track provides an overview of accounting for contributions, endowments, split-interest agreements, fair value measurement, net asset classification, and financial statement presentation.

• Not-for-Profit Certificate I - Tax Compliance Track provides an overview of tax and compliance requirements that apply to tax-exempt, not-for-profit entities (NFPs) and covers topics such as activities that can jeopardize tax-exempt status, unrelated business income taxes, IRS Form 990, private foundations and much more.

• Not-for-Profit Certificate I - Governance and Assurance Track provides a foundation in board governance, auditing, and financial oversight of NFPs with a focus on governance practices, risk management, internal control, and audit planning and preparation.

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

CPAs and accounting professionals new to NFPs or in need of a refresher

Key Topics

• Introduction to accounting topics that apply to not-for-profit entities
• Financial statement presentation and disclosures
• Accounting for contributions, endowments, split-interest agreements, and net assets
• Tax compliance considerations, activities that can jeopardize tax-exempt status, unrelated business income taxes, IRS Form 990, and private foundations
• Board governance, financial oversight, risk management, internal control, and audit planning and preparation

Learning Outcomes

• Identify the proper accounting treatment for typical transactions of not-for-profit entities.
• Recognize the financial statement presentation and disclosure requirements that apply to not-for-profit entities.
• Identify basic state and federal filing requirements of an exempt organization, recognize the core components of the annual information return Form 990, and identify when an NFP may be subject to unrelated business income tax.
• Recognize best practices in NFP board governance, risk management and internal controls.
• Identify steps involved in planning a successful audit engagement and identify key auditing considerations.