Financial statement preparation for not-for-profit entities can be complex. Whether you are preparing or auditing them, you'll find the tools you need in this helpful resource. This checklist contains the most comprehensive financial reporting and disclosure guidance available, plus a complete set of illustrative financial statements to assist you in understanding and applying standards like ASU 2016-14, 2018-08, and 2014-09. Key features include: Designed to assist auditors and preparers in overcoming the complexities of financial statement preparation for not-for-profit entities.

New for 2017--ASU No. 2016-14, Not-for-Profit Entities (Topic 958): Presentation of Financial Statements of Not-for-Profit Entities. Questions have been added to the checklist for those entities that may wish to early adopt this standard. Updates include: (ASU) No. 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments ASU No. 2016-14, Not-for-Profit Entities (Topic 958): Presentation of Financial Statements of Not-for-Profit Entities ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments (a consensus of the Emerging Issues Task Force) ASU No. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash, a consensus of the FASB Emerging Issues Task Force ASU No. 2017-02, Not-for-Profit Entities – Consolidation (Subtopic 958-810): Clarifying When a Not-for-Profit Entity That Is a General Partner or a Limited Partner Should Consolidate a For-Profit Limited Partnership or Similar Entity (ASU) No. 2017-04, Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment Statement on Auditing Standards (SAS) No. 132, The Auditor’s Consideration of an Entity’s Ability to Continue as a Going Concern, Forming an Opinion and Reporting on Financial Statements (AICPA, Professional Standards, AU-C sec. 570) Statement on Standards for Accounting and Review Services No. 23, Statements on Standards for Accounting and Review Services: Omnibus Statement on Standards for Accounting and Review Services-2016 (AICPA, Professional Standards)

Contains technical guidance and practice aids for preparation of financial statements. Contains sample documents, addresses, GAAP issues on a statement by statement basis.

The GAO & the Pres. Council on Integrity & Efficiency (PCIE) maintain the Financial Audit ManualÓ (FAM). The FAM provides guidance for performing financial statement audits of Federal entities & is a key tool for enhancing accountability over taxpayer-provided resources. In Oct. 2003, the Checklist for Reports Prepared under the CFO ActÓ was revised, & comments were requested on an exposure draft of the checklist. One of the key changes in the final checklist is its title, which has been changed to Checklist for Federal Accounting, Reporting, & DisclosuresÓ to reflect the checklist's potential application to any Federal entity preparing annual audited financial statements in accordance with the OMBs form & content guidance.

Financial statement preparation for not-for-profit entities can be complex. Whether preparing or auditing them, accountants will find the tools they need in this helpful resource. This checklist contains the most comprehensive financial reporting and disclosure guidance available, plus a complete set of illustrative financial statements to assist you in understanding and applying standards like ASU 2018-08, and 2014-09. New in 2020: revenue recognition grants and contracts

GAAP Financial Statement Disclosures Checklists includes financial statement disclosures checklists (annual and interim) that provide a centralized resource of the required and recommended GAAP disclosures and key presentation items currently in effect, using the style referencing under the FASB Accounting Standards Codification. These checklists are intended to be used as a guide for determining whether the financial statements (or interim financial statements) of for-profit type entities include the disclosures and key presentation requirements under U.S. GAAP. ASC paragraph 270-10-05-01 indicates that interim financial information "may be issued on a monthly or quarterly basis or at other intervals and may take the form of either complete financial statements or summarized financial data."The checklists are organized by accounting topic (detailed in each Table of Contents), consistent with the Codification's broad structure, and provide authoritative references. The checklists provide columns that allow checklist users to document (1) whether the disclosure requirements are applicable; (2) whether the disclosure requirements have been included in the financial statements; and (3) preparer and reviewer comments for additional documentation. Once completed, the checklist can be placed in annual or quarterly work papers to provide support for review and compliance procedures. The disclosure and key presentation requirements in these checklists include the relevant citation from the Codification as of June 30, 2014, using the FASB classification system and are preceded by the acronym "ASC." These disclosure and key presentation requirements are primarily included in Sections 50 and 45 of the Codification.Some of the questions included in the checklists do not refer to any specific authoritative literature. Nevertheless, the disclosure or presentation items they address are considered informative for users of the financial statements and usually are disclosed or presented. These disclosures or presentation items are generally accepted by accountants and auditors and, accordingly, are referenced as "Generally accepted practice" in this checklist.These checklists (annual and interim) do not address the specialized disclosure requirements of specialized industries, not-for-profit organizations, the Securities and Exchange Commission (SEC), or the Governmental Accounting Standards Board (GASB).

This book contains the most comprehensive financial reporting and disclosure guidance available, plus a complete set of illustrative financial statements to assist you in understanding and applying standards like ASU 2016-14, 2018-08, and 2014-09. --