Cover image for Wiley not-for-profit GAAP 2004 : interpretation and application of generally accepted accounting principles for not-for-profit organizations
Wiley not-for-profit GAAP 2004 : interpretation and application of generally accepted accounting principles for not-for-profit organizations
Larkin, Richard F.
Personal Author:
Publication Information:
Hoboken, NJ ; Chichester : John Wiley & Sons, [2004]

Physical Description:
xviii, 455 pages : forms ; 24 cm
Added Author:
Added Title:
Not-for-profit GAAP 2004.
Format :


Call Number
Material Type
Home Location
Item Holds
HF5686.N56 L37 2004 Adult Non-Fiction Non-Fiction Area

On Order



The most practical, authoritative guide to not-for-profit GAAP

Wiley Not-for-Profit GAAP 2004 is a comprehensive, easy-to-use guide to the accounting and financial reporting principles used by not-for-profit organizations. It is written with the needs of the financial statement preparer, user, and attestor in mind. It provides a complete review of the authoritative accounting literature that impacts all types of not-for-profit organizations. At the same time, Wiley Not-for-Profit GAAP 2004 features many examples and illustrations that will assist the reader in applying authoritative literature to real-life situations. Wiley Not-for-Profit GAAP 2004 excels in providing financial statement preparers, users, and attestors with the most comprehensive and usable information because of these features:
* Easy-to-use information that enables the reader to find needed information quickly
* Coverage of accounting principles specifically related to not-for-profit organizations, as well as accounting principles applicable to all types of organizations
* Specific coverage of accounting issues for different types of not-for-profit organizations
* A comprehensive disclosure checklist that helps financial statement preparers and attestors ensure that all disclosures required by GAAP have been considered
* Many examples and illustrations that make putting accounting theory into practice an easy task

This 2004 Edition also includes new information covering:
* AICPA Technical Practice Aid addressing donor-defined eligibility requirements
* Derivatives Implementation Group Topic B35, Embedded Derivatives: Application of Statement 133 to a Not-for-Profit Organization's Obligation Arising from an Irrevocable Split-Interest Agreement, which provides guidance for determining whether a split-interest agreement includes an embedded derivative
* FASB Interpretation No. 45, Guarantor's Accounting and Disclosure Requirements for Guarantees, Including Indirect Guarantees of Indebtedness to Others, including special discussion of loan guarantees that are accounted for as contributions
* FASB Statement No. 149, Amendment to Statement 133 on Derivative Financial Instruments

Wiley Not-for-Profit GAAP 2004 strives to be a thorough, reliable reference that you'll use constantly. It's designed to be kept on your desk rather than on your bookshelf.

Author Notes

Richard F. Larkin is technical director of not-for-profit accounting and auditing for Long Group, Chartered, in Bethesda, Maryland.

Marie DiTommaso is a partner in her own CPA practice, DiTommaso & Ruppel, CPAs. 

Table of Contents

Authoritative Accounting Pronouncementsp. xi
Part 1 Overview of Not-for-Profit Organizations
Chapter 1 Overview of Not-for-Profit Organizationsp. 3
Chapter 2 Cash versus Accrual Basis Accountingp. 7
Part 2 Basic Financial Statements
Chapter 3 Statement of Financial Positionp. 19
Chapter 4 Statement of Activitiesp. 25
Chapter 5 Statement of Cash Flowsp. 34
Chapter 6 Other Financial Statement Issuesp. 47
Part 3 Specific Not-for-Profit Accounting Topics
Chapter 7 Fund Accountingp. 67
Chapter 8 Net Assetsp. 79
Chapter 9 Contributions, Pledges, and Noncash Contributionsp. 84
Appendix A Checklistp. 101
Appendix B Checklistp. 103
Appendix C Checklistp. 105
Appendix D Checklistp. 107
Appendix E Checklistp. 109
Appendix F Checklistp. 112
Chapter 10 Investmentsp. 116
Chapter 11 Affiliated Organizationsp. 127
Appendix A Checklistp. 143
Chapter 12 Split-Interest Agreementsp. 145
Chapter 13 Fund-Raising and Joint Costsp. 156
Chapter 14 Functional Reportingp. 169
Chapter 15 Collectionsp. 174
Part 4 Other Accounting-Related Not-for-Profit Issues Topics
Chapter 16 Accounting for Specific Types of Not-for-Profitsp. 181
Associations and Professional Societiesp. 181
Churchesp. 184
Clubsp. 185
Librariesp. 186
Museumsp. 187
Performing Arts Organizationsp. 188
Private Foundationsp. 189
Religious Organizations other than Churchesp. 192
Research and Scientific Organizationsp. 193
Private Elementary and Secondary Schoolsp. 194
Public Broadcasting Systemsp. 194
Chapter 17 Importance of Budgets to a Not-for-Profitp. 196
Chapter 18 Principal Federal and State Tax Reporting and Regulatory Requirementsp. 204
Part 5 General Accounting Topics Applied to Not-for-Profit Organizations
Chapter 19 Current Assets and Current Liabilitiesp. 263
Chapter 20 Inventoryp. 270
Chapter 21 Long-Lived Assets, Depreciation, and Impairmentp. 278
Chapter 22 Intangible Assetsp. 291
Chapter 23 Contingenciesp. 296
Chapter 24 Business Combinationsp. 307
Chapter 25 Accounting for Pensions and Postretirement Benefitsp. 316
Chapter 26 Long-Term Liabilitiesp. 347
Chapter 27 Accounting Changesp. 366
Chapter 28 Accounting for Leasesp. 378
Chapter 29 Financial Instrumentsp. 413
Chapter 30 Capitalization of Interest Costsp. 419
Appendix Disclosure Checklistp. 425
Indexp. 445