Homework: Financial Reporting Review of a Not-for-Profit Organization
Overview
Select one not-for-profit organization in an area of interest to you and review the financial statements and audit reports for the organization. The financial statements and audit report of the not-for-profit organization should be readily and publicly available on their website.
Instructions
Write a 3 to 5 pages paper in which you do the following:
1. Analyze the selected not-for-profit's financial statements to determine if the statements conform to the Financial Accounting Standards Board (FASB) guidance in Financial Statements of Not-for-Profit Organizations.
2. Explain the selected organization's use of the three fund categories.
3. Recommend at least two areas of potential interest to the stakeholder concerning the status of revenue and expenses.
4. Analyze the organization's statement of cash flows.
5. Explain the format that the organization utilizes, including any unique areas of emphasis that differ from the GAAP accounting format.
6. Compare the organization's reporting of pledges and contributions to reporting of exchange transactions. Discuss the funds that are used.
7. Assess the fiscal condition of the selected organization, interpreting financial indicators and using financial ratios widely accepted as being indicative of fiscal health.
8. Expand the assessment to include fundraising analysis, program review, contributions, and grant and revenue analyses.
Format your homework according to the give formatting requirements:
1. The answer must be double spaced, typed, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also includes a cover page containing the title of the homework, the course title, the student's name, and the date. The cover page is not included in the required page length.
3. Also include a reference page. The references and Citations should follow APA format. The reference page is not included in the required page length.
The specific course learning outcome associated with this homework:
1. Evaluate the financial statements and fiscal condition of a not-for-profit organization relative to financial guidelines.