How to Read Nonprofit Financial Statements: A Practical Guide

by Andrew S. Lang, Tammy Ricciardella, Lee Klumpp

EXPERT GUIDANCE ON HOW TO READ, INTERPRET, AND USE NONPROFIT FINANCIAL STATEMENTS-UPDATED FOR THE NEW FASB STANDARD RELATED TO NONPROFIT FINANCIAL REPORTING (ASU 2016-14)

If you're an executive or volunteer leader at a nonprofit who is unfamiliar with the formats and language of financial statements, this book fills you in on how to read and correctly interpret those critical documents. If you're a seasoned pro who wants to brush up on your skills while familiarizing yourself with the latest FASB nonprofit reporting standards, this is the only guide you need.

The intent behind creating the ASU 2016-14 was to improve the clarity and usefulness of nonprofit financial statements, but making sense of those statements can still be tough going for the uninitiated. Accountants and non-accountants alike who use and prepare nonprofit financial statements need guidance on how to interpret and implement the new FASB standard. Written for both audiences, this

Clearly defines accounting terminology and concepts, while offering numerous examples of financial statements reflecting both the old and new FASB standards Steers you, line-by-line, through financial reports, providing explanations of differences between the old and new standards Provides numerous illustrations that help you quickly feel at home with the format of nonprofit financial statements Offers exercises that help you gain insight into the concepts surrounding nonprofit financial statements and reinforce your command of those concepts How to Read Nonprofit Financial Statements, Third Edition is an invaluable resource for everyone who reads, interprets, or prepares those all-important documents.

270 pages, Kindle Edition

Published March 15, 2017

Reviews

[Sara · Rating 3 out of 5]

Checked this out to see if it was appropriate to recommend to board members who wanted additional help reading financial statements. The answer to that is no. Did have some helpful examples on how to present some audit information. This is most appropriate to someone already somewhat versed in understanding statements and basic accounting procedures, so I'm probably going to create my own resource for board members at the level they need it.

[Helen Mosher · Rating 5 out of 5]

I sat for the Certified Association Executive exam last spring and this was a helpful resource in understanding the fundamental financial documents required to run a nonprofit, which is content on the exam.

[Bob Collins · Rating 4 out of 5]

Excellent overview of the various financial statements as they relate to nonprofit organizations. The exercises were particularly helpful.