Non-for-Profit Financial Reporting Review

Anonymous
timer Asked: Mar 1st, 2018
account_balance_wallet $40

Question description

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 publically available on an active Website.


Write a three to five (3-5) page paper in which you:

  1. Analyze the selected not-for-profit’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 organization’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.
  2. Analyze the organization’s statement of cash flows. Explain the format that the organization utilizes, including any unique areas of emphasis that differ from-GAAP accounting format.
  3. Compare the organization’s reporting of pledges and contributions to its reporting of exchange transactions. Discuss the funds that are utilized.
  4. Assess the fiscal condition of the selected organization utilizing and interpreting financial indicators, using financial ratios that are widely accepted as being indicative of fiscal health. This assessment should also be expanded to include fund-raising analysis, program review, contributions, and grant analysis and revenue analysis.

Your assignment must follow these formatting requirements:

  • Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.
  • Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.

Tutor Answer

Chucks574
School: UIUC

Thank you so much

Running head: Nonprofit Organization

1

Nonprofit Organization:
Name:
Institution affiliation:
Date:

Non-Profit Organization

2

Arkansas nonprofit alliance (ANA) is a state association situated in Arkansas of nonprofit
organizations & it is also the representative of Arkansas State to the National council of Nonprofits.
The members to this association include businesses, nonprofits as well as all individuals who are
committed to excellence in the state’s nonprofit sector.
In relation to the compliance of the organization’s financial statements to the Financial
Accounting Standards Board (FASB) guidance in Statement No. 117, which require all nonprofit
organizations to provide a financial position statement a statement of cash flows as well as a
statement of activities, ANA’s financial statement conformed with this standards. This is so since
the organization’s financial statement not only shows the current assets but it also shows the
organization’s liabilities as well as net assets as required by the FASB guidance. Additionally,
compliance is evident in the way the organization reports changes in the organization’s assets as
well as is revenues & expenses. The change in net assets has been reported by the organization by
identifying unrestricted as well as temporarily restricted assets. (FASB, 1993). The two areas of
potential interest to stakeholders in relation to the status of the organizations revenue is the
members ship fees as well as the program service fee. This is so since the organization can be able
to raise more revenue by raising its member ship fees as well as program service fee since, despite
being an association that encompasses other several other businesses, nonprofits as well as all
individuals who are committed to excellence in the state’s nonprofit sector. Additionally, the area
of potential interest to stakeholders in relation to the status of the organizations expense...

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Review

Anonymous
Outstanding Job!!!!

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