11:00 AM - 12:30 PM (EASTERN TIME)
Since the implementation of ASU 2016-14 many nonprofits that did not previously have to present a statement of functional expense are required to. Understanding and implementing the requirement can take some time and judgement.
This presentation will help individuals understand the elements of the statement of functional expense and how to make it meaningful to your audience. You will be able to understand the difference between program and supporting services and variance methods for allocating costs in accordance with GAAP.
- define the elements of the statement of functional expenses.
- understand financial statement presentation and disclosure of functional expenses.
- understand how to allocate costs between functions.
- be able to identify joint costs.
|Level||Intermediate||Delivery||Group live presented online due to COVID-19|
|CPE(NASBA Category)||Accounting||Reviewer||Wade Tetsuka, CPA|
|CAE (Field of Study)||Administration||CPE/CAE Credits||1.5|
|Prerequisites and advance preparation needed||preferably 1-year or more of experience with nonprofit accounting (private or public company). Advance preparation needed: None||Cost||free|
U.S Transactions Corp. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org