ASC 958 – Not-for-Profit Entities (US GAAP)

There has been recent changes by FASB to the US GAAP when it comes to accounting for Not-for-Profit entities. Let’s explore them with examples in this training.

7

 2h 24m | 18 Videos | 62271 Views |   Intermediate| English[Auto-generated]

ASC 958 Not-for-Profit Entities (US GAAP):

Generally Accepted Accounting Principles, also called GAAP or US GAAP, are the generally accepted accounting principles adopted by the U.S. Securities and Exchange Commission (SEC). They are used by most US public and private corporations and also by their international affiliates.

There has been changes recently by FASB to the US GAAP when it comes to accounting for Not-for-Profit entities. Let’s explore them. All the concepts are explained extensively by the use of various case studies for the purpose of deep and insightful understanding.

• Introduction
• Changes introduced
• Net asset classification and related disclosures
• Underwater endowments
• Places-in-service approach
• Statement of cash flow
• Net investment returns
• Analysis of expenses by nature & function
• Available resources and liquidity

The training includes the following:

• Introduction
• Income Statement
• Unusual or infrequently occurring items
• Changes introduced
• Examples

Target Customers:

• Professionals (majorly Accountants, Auditors, Accounting Consultants, and Chartered Financial Analysts etc.) who want to excel in global organizations by learning about global standards that ply in their working.
• Anyone who wants to learn about accounting standards and improve the knowledge about the working of organizations on a global level.
• Students
• Anyone wanting to learn about US GAAP

Pre-Requisites:

• Passion to learn
• Interest in finance and accounting
• Basic knowledge of accounting terms and concepts

Back to top ▴