Write a 3–5 page paper in which you do the following:
Determine if the NFP’s statements conform to the FASB guidance, explaining how the selected NFP uses
the required fund categories and recommending at least two areas of potential interest to stakeholders
concerning the NFP’s revenue and expense status.
Analyze the selected NFP’s financial statements to determine if the statements conform to the Financial
Accounting Standards Board (FASB) guidance from Not-for-Profits. (Note: You have to click “Accept” to
see the guidance.)
As part of the analysis, explain how the selected NFP organization uses the required fund categories and
recommend at least two areas of potential interest to stakeholders concerning the NFP’s revenue and
Explain the format utilized to prepare the Statement of Cash Flows, pointing out at least two areas of
emphasis that differ from GAAP accounting format.
The financial statements of NFP organizations include a Statement of Cash Flows.
Analyze this Statement of Cash Flows in order to explain the format utilized.
Point out any unique areas of emphasis that differ from GAAP accounting format.
Compare the organization’s reporting of pledges and contributions to its reporting of exchange
transactions, discussing at least three of the funds used.
NFP organizations report pledges and contributions in addition to reporting exchange transactions.
Assess the fiscal condition of the selected NFP organization, interpreting financial indicators specific to
NFPs and financial ratios widely accepted as being indicative of fiscal health.
The National Audubon Society is a non-profit that I have chosen to work with on this task. The National Audubon Society is a non-profit organisation whose goal is to preserve the natural environment to benefit birds throughout America through advocacy, research and education as well as hands-on conservation initiatives. Millions of people have the opportunity to discover and preserve the natural world by visiting Audubon centers and sanctuary sites. The company releases monthly and annual financial statements in order to keep the highest levels of transparency. I am intrigued by this organization due to the harm that greedy people do to the habitats of wildlife.
Find out if the statements of the NFP conform to the FASB Guidance follows the guidelines set in the Financial Accounting standards Board’s Declaration No. 117. Simple, precise information can be made available to the public by the business. The financial statements of the company comprise a statement of financial situation, an activity report and the cash flow statement (Johnson 1). It is the US commonly accepted accounting practices are used to prepare the annual report of the company.
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