Financial Oversight, Budget and Strategy: Not-for-Profit Governance and Assurance
Covers procedures and examples of policies that help maintain good governance and financial oversight by a not-for-profit board of directors.
NASBA Field of Study
Business Management and Organization
This CPE course reviews procedures and example policies that help maintain good governance and financial oversight by a not-for-profit (NFP) board of directors. It covers basic organizational structure and the responsibilities of a typical NFP finance committee, investment committee, and audit committee that work in partnership to ensure proper stewardship of the NFP’s resources. You will also learn about budget preparation and monitoring, as well as strategies to analyze the financial health of an NFP, including dashboard reports, analysis, techniques and key ratios to manage and monitor liquidity, cash flow and efficiency.
Note: As of August 1, 2018, course content has been updated to reflect implementation of FASB Accounting Standards Updates (ASUs) effective for most not-for-profit entities for their next financial reporting period, including those related to financial statement presentation (ASU 2016-14) and revenue recognition (ASU 2014-09 and ASU 2018-08).
- NFP governing body’s purpose, role, and responsibility
- IRS Form 990
- Written policies and procedures for NFP boards and committees
- Uniform Prudent Management of Institutional Funds Act (UPMIFA)
- Ratio analysis
- Accounting policies
- Types of budgets
- Operating reserves
- Responsible fundraising
- Risk management
- Distinguish between the roles and responsibilities of a typical NFP’s board and management with respect to financial oversight.
- Identify strategies to analyze the financial health of an NFP.
- Recall key accounting policies unique to NFPs.
- Recognize steps to prepare and monitor a successful budget for NFPs.
- Recall the principles of ethical fundraising and responsible stewardship of contributed resources.
Group ordering for your team
The Association is dedicated to removing barriers to the accountancy profession and ensuring that all accountancy professionals and other members of the public with an interest in the profession or joining the profession, including those with disabilities, have access to the profession and the Association's website, educational materials, products, and services. The Association is committed to making professional learning accessible to all. This commitment is maintained in accordance with applicable law. For additional information, please refer to the Association's Website Accessibility Policy. For accommodation requests, please contact email@example.com and indicate the product that you are interested in (title, etc.) and the requested accommodation(s): Audio/Visual/Other. A member of our team will be in contact with you promptly to make sure we meet your needs appropriately.