Welcome to Bookkeeping for Nonprofits! This course is for those who already understand proper bookkeeping procedures but need to apply these procedures to nonprofits. In this course we will review the rules of debits and credits, regardless of if it’s a for profit business or a nonprofit organization, the rules of debits and credits remain the same! You will learn what the chart of accounts looks like for nonprofits (hint - there is no equity). You will learn how to record transactions, with a focus on how money filters into a nonprofit organization and how you track the spending of funds received. The course finishes with preparing financial statements for a nonprofit.
Even though a nonprofit organization is not in business to make a profit, they still have expenses just like a for profit business does and they still have money coming in. It’s important that you understand how to handle bookkeeping procedures for this unique type of organization. In order for any organization to be successful, and to make sound decisions, you have to know the financial health of your organization. Let’s get started!
CEUs: 1.6
Length (in hours): 16
Price in USD $195
Price in CAD $265
Agenda
Unit 1
Introduction to Nonprofits
- Understanding Nonprofits
- Types of Nonprofits
- Legal Compliance for Nonprofits
Unit 2
Accounting for Nonprofits
- Fund Accounting
- Chart of Accounts for Nonprofits
- The Accounting Equation for Nonprofits
- The Five Categories
- The Rules of Debits and Credits
Unit 3
Recording Transactions
- Revenue for Nonprofits
- Expenses for Nonprofits
- Recording Transactions
- Tracking Allocated Funds
Unit 4
Financial Statements
- Statement of Activities
- Statement of Financial Position
- Statement of Functional Expenses
- Statement of Cash Flows
- Form 990