Unified Financial Reporting System for Not-for-Profit Organizations A Comprehensive Guide to Unifying GAAP, IRS Form 990 and Other Financial Reports Using a Unified Chart of Accounts,9780787952136

Unified Financial Reporting System for Not-for-Profit Organizations A Comprehensive Guide to Unifying GAAP, IRS Form 990 and Other Financial Reports Using a Unified Chart of Accounts

by ;
Edition: 1st
ISBN13: 9780787952136
ISBN10: 0787952133
Format: Paperback
Pub. Date: 2000-09-14
Publisher(s): Jossey-Bass
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Summary

Sponsored by CompassPoint Nonprofit Services, formerly known as the Support Center for Nonprofit Management/ Nonprofit Development Center Nothing can be more important to an organization's health and success than the quality of its financial reporting. This comprehensive guide is for all nonprofits that are required to comply with financial reporting standards set by the IRS and thirty-five state charity regulators (Form 990), FASB and AICPA (GAAP), grantmakers, and the like. It shows how to unify financial reporting requirements without compromising the organization's accuracy and accountability.

Author Biography

RUSSY D. SUMARIWALLA is former president and CEO of United Way International and has been a leader in the nonprofit sector for over thirty years. He is the author of several publications, including the first and second editions of United Way of America's Accounting and Financial Reporting Guide. He was also the project director for the 1988 edition of Standards of Accounting and Financial Reporting for Voluntary Health and Welfare Organizations, also known as "The Black Book."WILSON C. LEVIS is manager of the Nonprofit Management Group in the School of Public Affairs, Baruch College, the City University of New York. He also serves as project manager for Baruch College's quality reporting projects. He is former vice president of the National Charities Information Bureau.

Table of Contents

Figures, Tables, Exhibits, and Worksheet
vii
Foreword xi
Acknowledgments xv
The Authors xvii
Technical Advisory Group xix
Participating Organizations xxi
Introduction xxiii
PART 1 INTRODUCTION, OVERVIEW, AND PERSPECTIVE
What Is a Not-for-Profit Organization?
3(5)
America's Not-for-Profit Sector
8(6)
The Pivotal Role of IRS Form 990 in Financial Reporting
14(5)
Information Technology and Financial Reporting
19(6)
PART 2 KEY BUILDING BLOCKS OF A UNIFIED FINANCIAL REPORTING SYSTEM
Unified Chart of Accounts
25(15)
Activity-Level Accounting and Reporting for Revenue and Expenses
40(15)
Functionalized Trial Balance Report
55(13)
Allocation of Expenses
68(26)
Staff Time Recording and Reporting
94(11)
PART 3 UNIFIED INTERNAL AND EXTERNAL FINANCIAL REPORTS ALIGNED WITH FORM 990
Financial Reports: Overview
105(3)
GAAP Financial Statements
108(24)
IRS Form 990 Financial Statements
132(11)
Uniform Government Grant Reports
143(17)
Corporate and Foundation Grant Budgeting and Reporting
160(8)
Reporting to United Ways and Other Grant Makers
168(10)
Financial Reporting for Internal Management Purposes
178(159)
Conclusion
189(8)
RESOURCES
A IRS Form 990 and Schedule A for 1999
197(14)
B Content of Unified Chart of Accounts by Account Number
211(10)
C Cross-Referencing Your Not-for-Profit Organization's Chart of Accounts to the Unified Chart of Accounts: Cross-Reference Worksheet and Keyword Index
221(20)
D Examples of Employee Time Sheets
241(18)
E Summary of State Registration and Filing Requirements for Not-for-Profit Organizations
259(6)
F National Taxonomy of Exempt Entities: Activity Codes
265(26)
G Voluntary Standard-Setting and Evaluation Groups for Not-for-Profit Organizations
291(34)
H A Brief History of Financial Accounting and Reporting Standards for Not-for-Profit Organizations
325(8)
I Accountability for Service Efforts and Accomplishments
333(2)
J Selected Form 990 and Management and Technical Assistance Web Sites
335(2)
Notes 337(4)
Bibliography 341(8)
Index 349

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