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 publicly available on an active Website.
Write a 650 words in which you:
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.
- 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.
the organization’s reporting of pledges and contributions to its
reporting of exchange transactions. Discuss the funds that are utilized.
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.