ACCT 120 | Introduction to Nonprofit Accounting, Part II: Expenses, Fixed Assets and Net Assets

Starting

September 20, 2023

Start Time

1:00 pm

End Time

4:30 pm

Location

Virtual

Event Type

Nonprofit University

Registration Details

Members: $95
Non-Members: $120

Overview

Properly recording and reporting on expenses will help your organization analyze how resources are used and make informed decisions regarding the best ways to employ these resources.

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.

This course was formerly numbered as ACCT 205. It has been changed to better reflect the content level and intended audience.

Key Concepts

  • Chart of accounts, functional classification, and grant classification
  • Expenses, including 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.

Facilitator(s)

faculty parnes square
Shelley Parnes

Share This Event:

You might also be interested in these events

Certificate of Nonprofit Accounting and Finance Operations

Take your skills in nonprofit accounting and finance to the next level with this three-part certificate series.
May 11, 2023
9:00 AM

ACCT 220 | Internal Controls and Accountability

During this class we will review the procedures that successful organizations operate under to safeguard assets.
May 11, 2023
9:00 AM

Welcome to the new GCN.org!

We hope you like it as much as we do. If you have issues finding anything, reach out to us at info@gcn.org.