Statement of Functional Expenses for Nonprofits: Categorizing and Reporting Expenses Under ASU 2016-14
Recording of a 110-minute CPE webinar with Q&A
This course will provide nonprofit finance professionals and their advisers with a review of current trends related to statements of functional expenses (SFEs) and best practices for creating an accurate account of functional expenses.
Outline
- Standards governing the preparation of an SFE
- FASB ASU 2016-14
- GAAP
- Other standards
- Categorization of a nonprofit's expenses
- Determining functional categories
- Program expenses
- Management and general expenses
- Fundraising expenses
- Best practices with SFEs
- How outside parties use SFEs
- What is the IRS watching
- What donors are watching
- Common errors in functional reporting
Benefits
The panel will cover topics like these and other vital issues:
- Categorizing a nonprofit's expenses
- Avoiding common errors in functional reporting
- Making defensible decisions on allocating joint costs
- Analyzing what the SFE says about the nonprofit's expense efficiency
- Understanding accounting standards that govern the preparation of an SFE
Faculty
Alexander K. Buchholz, CPA, MBA, CGMA
Partner
PKF O’Connor Davies
Mr. Buchholz has more than 15 years of experience in public accounting, including with a “Big Four”... | Read More
Mr. Buchholz has more than 15 years of experience in public accounting, including with a “Big Four” accounting firm. He is responsible for the development of the audit approach, supervision of staff as well as the establishment and maintenance of the engagement budget. Additionally, he is responsible for managing the audit so that it is performed on a timely basis with as little intrusion to client operations as possible. Mr. Buchholz’ expertise is in single audits and internal control/compliance audits. His industry experience is in healthcare and not-for-profit entities. He is also an adjunct professor at Brooklyn College of the City University of New York in the Department of Accounting where he teaches undergraduate and graduate courses in accounting and auditing. He also teaches at the School of Professional Studies and Lehman College of the City University of New York.
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Alyssa Hill, CPA
Partner
Carr Riggs & Ingram
Ms. Hill has more than 20 years of public accounting experience with an emphasis in nonprofit and governmental... | Read More
Ms. Hill has more than 20 years of public accounting experience with an emphasis in nonprofit and governmental entities. Her experience includes health and welfare organizations, foundations, institutions of higher education, and special-purpose districts. Ms. Hill also has extensive experience with organizations that receive federal and state funding and are subject to single audit. In addition to her expertise in the nonprofit sector, she has numerous years of experience in providing accounting and audit services to all types of companies including manufacturing and distribution companies. Ms. Hill an instructor for the Non-Profit Finance Certificate Program offered through Rice University’s Center for Philanthropy and Non-Profit Leadership.
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