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Liabilities: Not-for-Profit Accounting & Financial Reporting
CPE Self-study

Liabilities: Not-for-Profit Accounting & Financial Reporting

Learn about the accounting and reporting standards related to the most significant liabilities for many NFPs, including debt instruments and other common liabilities.

$47.20 - $69
Do you have an AICPA membership? Log in to apply your member discount.

Format

Online

NASBA Field of Study

Accounting

Level

Basic

CPE Credits

2

Author(s)

Karen Craig

Availability

1 year

Product Number

165132

 Business & partner 
Product Details

This CPE course is included in the comprehensive Not-for-Profit Certificate I Program. It can also be purchased individually or as a part of the Not-for-Profit Accounting and Financial Reporting track.

Accurate reporting of liabilities is essential to presenting a clear picture of a not-for-profit entity's (NFP's) financial health. Creditors, constituents and other users of an NFP's financial statements rely on the information regarding an organization's liabilities to assess its short-term and long-term sustainability. In addition, an NFP's role in providing societal benefits and its tax-exempt status raises unique issues for NFPs that issue debt instruments, such as bonds, to raise funds for operations or to construct program facilities.

In this CPE course, you will learn about the accounting and reporting standards related to the most significant liabilities for many NFPs, including debt instruments such as notes and bonds, pension and other postretirement plan obligations, and other liabilities common to NFPs. In addition, this course discusses financial statement presentation and required note disclosures related to debt. You will work through several scenarios and examples.

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).

Key Topics
  • Fair value measurement
  • Debt instruments
  • Taxable and tax-exempt bonds
  • Debt extinguishment and modification transactions
  • Debt issuance costs
  • Pension and other defined benefit postretirement plan obligations
  • Other liabilities
  • Financial statement presentation and disclosure
Learning Outcomes
  • Identify liabilities common to NFPs.
  • Recall the accounting for an NFP's debt.
  • Recognize the disclosures required for an NFP's liabilities.
Credit Info
CPE Credits
Online
2
NASBA Field of Study
Accounting
Level
Basic
Prerequisites
Knowledge of the not-for-profit industry
Access
Online
This is a digital product. With full paid access the content will be available to you for 1 year after purchase date.
Yellow Book Hours
2
Pricing
Do you have an AICPA membership? Log in to apply your member discount.
Nonmembers
Online
$69.00
AICPA Members
Online
$59.00
NFP Section Members
Online
$47.20

Group ordering for your team

2 to 5 registrants

Save time with our group order form. We’ll send a consolidated invoice to keep your learning expenses organized.

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6+ registrants

We can help with group discounts. Call us at 1-800-634-6780 (option 1) or email us at salessupport@aicpa.org

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Instructors
Karen Craig
Karen Craig, CPA, is a consultant providing technical accounting, reporting, finance, and analytical expertise to not-for-profits with a focus on higher education. She holds a degree in journalism and an MBA from California Polytechnic State University and is a licensed CPA in California. From 2002 to 2009, Karen was an Associate Controller at Stanford University where she was responsible for the overall operations of the university's investment accounting, financial reporting, capital accounting, payroll and disbursements departments. Prior to her work at Stanford, she was Controller for a software startup company and a Senior Audit Manager with PricewaterhouseCoopers. Karen hold memberships in the AICPA, in which she is an ex-officio member of the AICPA Not-for-Profit Industry Expert Panel, and the National Association of College and University Business Officers (NACUBO) in which she is a technical advisor to its Accounting Principles Council.
Accessibility

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Cancellation Policy
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Liabilities: Not-for-Profit Accounting & Financial Reporting
Select from the following options:
Online
$69.00
Nonmember Price
$69.00
Price excluding sales tax
$69.00
Do you have an AICPA membership? 
Log in to apply your member discount.
Shipping cost and sales tax will be added later during checkout

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