Not-for-Profit Entities - AICPA Audit and Accounting Guide

This guide summarizes new standards, guidance, and practices, and delivers "how-to" advice for handling audit and accounting issues common to not-for-profit entities.  

Updated as of March 1, 2011, the guide includes relevant guidance contained in applicable standards and other technical sources. Whether you are a financial statement preparer or auditor it is critical to understand the complexities of the not-for-profit industry including revenue and expense recognition, asset valuation, and financial statement presentation. This guide offers clear and practical guidance on recent developments in areas such as risk assessment and provides in depth discussion of accounting considerations with examples of the presentation and disclosure requirements for a variety of types of contributions, including split interest agreements. Additionally, this guide provides a thorough discussion of the application and disclosures of fair value measurements and the fair value option.

All content is reviewed by industry experts and approved by the appropriate AICPA senior technical committee(s). A subject index has been added to the Guide for ease of use.

Updates significant to this Guide include technical guidance contained in:

• Accounting Standards Update No. 2010-09, Subsequent Events (Topic 855): Amendments to Certain Recognition and Disclosure Requirements
• Accounting Standards Update No. 2010-07, Not-for-Profit Entities (Topic 958): Not-for-Profit Entities: Mergers and Acquisitions
• Accounting Standards Update No. 2010-06, Fair Value Measurements and Disclosures (Topic 820): Improving Disclosures about Fair Value Measurements
• Statement on Auditing Standards No. 117, Compliance Auditing

For a topical listing of subject matter by chapter, click on the Table of Contents tab.