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Nonprofit University

ACCT 205 | Introduction to Nonprofit Accounting, Part II: Expenses, Fixed Assets and Net Assets

Properly recording and reporting on expenses will help your organization analyze how resources are used and make informed decisions on how these resources are best employed. In this course, we start with basic best practices for nonprofit organizations to categorize expenses. We will also learn about functional-expense reporting and other accounting issues relating to expenses and net assets. You will walk through real nonprofit examples that will help you understand the recording of expenses. This class is right for you if you are new to the nonprofit sector, nonprofit accounting, or your position as staff or board member. 

Key Concepts

  • Chart of accounts, functional classification, grant classifiction
  • Expenses, influding functional allocation of expenses
  • Fixed assets
  • Leases (including new major accounting standard update on the treatment of leases)
  • Net assets

Learning Objectives 

At the end of this course, you will be able to: 

  • Determine how to set-up your accounting system to best record expenses.
  • Define key nonprofit accounting terminology relating to functional allocation of expenses.
  • Explain the accounting for fixed assets and the new lease accounting rules.
  • Describe the different types of net assets. 
 

 

Dates

  • September 14, 2021

Time

9:00 am - 12:30 pm EDT

Address

Online Class
You will receive log-in information after registering for the course.

Registration Details

Fees
Member: $85
Nonmember: $110

Questions? Contact us at [email protected] or 678-916-3081.


September 14, 2021