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What you’ll learn

Gain an understanding of the NFP industry landscape

Learn the difference between for-profit vs. NFP organizations.

Explore the universe of NFP orgs and how they are organized

Understand how NFP entities life cycle from formation to dissolution, as well as their compliance requirements

Explore the accounting process and cycle for NFP orgs

Requirements

Basic understanding of general accounting

Basic understanding of accounting software and or Microsoft Excel

Basic knowledge of accounting and tax research

Description

This course provides individuals and organizations insights about the not-for-profit sector and guides them through the accounting process of these organizations. Individuals from various backgrounds would benefit from this course. Not-for-profit leaders, board members, and executives will be empowered to understand their organizations’ finances. These in return will allow them to properly make better decisions to continue serving their target communities. Donors and members of the community would benefit from this course as it helps them hold the organizations they love and support accountable as well as assess not-for-profit managers’ performance and stewardship of the recourses under their management.Throughout this course, we lay the building blocks by defining not-for-profit organizations, and how they differ from for-profit organizations. Then, we navigate their life cycle to reviewing key components of financial reports in not-for-profit organizations Furthermore, we expand on our analysis by looking into an actual organization and how they present their financial information to the public.Lastly, we use a fictitious organization to illustrate the formation and accounting process for a not-for-profit organization. We navigate key transactions, journal entries, and main financial reports. As additional steps, the course presents best practices in the documentation, creation, and organization of accounting records.Welcome to Not-For-Profit Accounting!

Who this course is for

Not-for-profit executives and directors, and board members

Not-for-profit accountants, bookkeepers, and advisors

Individuals interested in launching not-for-profit organizations

Not-for-profit donors

Individuals and organizations seeking to hold their favorite NFP organizations accountable

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