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
-Analyze the selected not-for-profits financial statements to determine if the statements conform to the Financial Accounting Standards Board (FASB) guidance in Financial Statements of Not-for-Profit Organizations.
-Explain the selected organizations use of the three fund categories.
-Recommend at least two areas of potential interest to the stakeholder concerning the status of revenue and expenses.
-Analyze the organizations statement of cash flows.
-Explain the format that the organization utilizes, including any unique areas of emphasis that differ from the GAAP accounting format.
-Compare the organizations reporting of pledges and contributions to reporting of exchange transactions. Discuss the funds that are used.
-Assess the fiscal condition of the selected organization, interpreting financial indicators and using financial ratios widely accepted as being indicative of fiscal health.
-Expand the assessment to include fundraising analysis, program review, contributions, and grant and revenue analyses.
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