This Seventh Edition is filled with authoritative advice on the financial reporting, accounting, and control situations unique to not-for-profit organizations. It contains discussions of the accounting and reporting guidelines for different types of organizations, complete guidance on tax and compliance reporting requirements, illustrated explanations of various types of acceptable financial statements, and much more!

Autorentext

Malvern J. Gross, Jr. was the author of the first edition of
this text and a significant contributor to many of the subsequent
editions. He is a retired partner of Price Waterhouse (a
predecessor to PricewaterhouseCoopers LLP) and a nationally
recognized authority on accounting and financial reporting for
not-for-profit organizations. he was chairman of the AICPA
Subcommittee on Nonprofit Organizations that wrote the 1978
landmark Statement of Position for Certain Nonprofit Organizations,
and of the Accounting Advisory Committee to the Commission on
Private Philanthropy and Public Needs. He was a member of the
committee that wrote the second edition o f Standards of Accounting
and Financial Museum Accounting Handbook. He served as an
advisor to the Financial Accounting Standards board in the early
phases of its work on setting accounting standards for
not-for-profit organizations, and to the New York State Charities
Registration Office, as well as an adjunct professor of accounting
at Lehigh University, his alma mater. After retirement from Price
waterhouse he was president of a not-for-profit organization, the
National Aeronautics Association. He now lives in the San Juan
Islands of the state of Washington.

John H. McCarthy served as the National Leader of
PricewaterhouseCoopers' Education & Nonprofit Practice before
his retirement in 2005. He was a coauthor of the sixth edition of
this text. He also is the coauthor of Understanding Financial
Statements: A Strategic Guide for Independent College and
University Boards, published by t4he Association of Governing
Boards of Universities and Colleges (1998), as well as several
publications by PricewaterhouseCoopers including: The Changing Role
of the Audit Committee (2004); Leading Practices for Colleges,
Universities and Other Not-for-Profit Educational Institutions
(2004); Leading Practices for Colleges, Universities and Other
Not-for-Profit Educational Institutions (2004); A Foundation for
Integrity (a 2004 guide for codes of conduct, conflicts of
interest, and executive compensation); Meeting the Challenges of
Alternative Investments (2004); Understanding Underwater Endowment
Funds (2003); and Financial Reporting and Contributions: A Decision
Making Guide to FASB Nos. 116-117 (1996) among others. He is a CPA
who, for more than 36 years, served PricewaterhouseCoopers'
education and not-for-profit clients, including many of the most
prestigious institutions in the United States. He currently served
on several not-for-profit boards. He is a past president of the
Massachusetts Society of CPAs, Inc. (MSCPA) and a two-term member
of the Governing Council of the AICPA. He has received numerous
honors for his involvement in the community. He graduated from
Boston College and has an MBA from the University of Michigan
Business School.

Nancy E. Shelmon is a senior partner of
PricewaterhouseCoopers LLP and is the firm's West Region Leader for
the Education and Not-for-Profit Industry within the United States.
Nancy is a frequent speaker at AICPA and state CPA conferences on
financial reporting and accounting issues affecting not-for-profit
clients for over thirty years and has been involved with some of
the most widely respected organizations in North America. Nancy
served on the Board of Directors of the Los Angeles Urban Leaguer,
the California Journal and Executive Service Corps of Southern
California. In addition to being a CPA, she is also a Certified
Fraud Examiner. She holds her accounting degree from the University
of Minnesota.

Inhalt

Chapter 1 Responsibilities for Fiscal Management 1

PART ONE KEY FINANCIAL CONCEPTS 13

Chapter 2 Accounting Distinctions between Not-for-Profit and
Commercial Organizations 15

Chapter 3 Cash- versus Accrual-Basis Accounting 23

Chapter 4 Fund Accounting and Internal Financial Reporting
33

Chapter 5 Fixed Assets and Depreciation 49

Chapter 6 Investment Income, Gains and Losses, and Endowment
Funds 61

Chapter 7 Affiliated Organizations, Pass-Through Transactions,
and Mergers 79

Chapter 8 Contributions, Pledges, and Noncash Contributions
101

Chapter 9 Accounting Issues Relating to Fundraising 139

PART TWO FINANCIAL STATEMENT PRESENTATION 155

Chapter 10 Cash-Basis Financial Statements 157

Chapter 11 Accrual-Basis Financial Statements 169

Chapter 12 Multiclass Financial Statements 181

PART THREE ACCOUNTING AND REPORTING GUIDELINES 229

Chapter 13 Voluntary Health and Welfare Organizations 231

Chapter 14 Colleges and Universities 263

Chapter 15 The External Financial Statement Reporting Model for
Public Colleges and Universities and Other Not-for-Profit
Organizations Reporting under the GASB 273

Chapter 16 Health Care Providers 301

Chapter 17 Accounting Standards for Other Not-for-Profit
Organizations 343

Chapter 18 Special Accounting Issues for Specific Organizations
355

Chapter 19 The Financial Accounting Standards Board and Future
Trends in Not-for-Profit Accounting 373

PART FOUR CONTROLLING THE NOT-FOR-PROFIT ORGANIZATION
393

Chapter 20 The Importance of Budgeting 395

Chapter 21 Avoiding Bankruptcy 419

Chapter 22 Small Organizations--Obtaining the Right
Accountant 435

Chapter 23 Small Organizations--Providing Internal Control
443

Chapter 24 Effective Internal Accounting Control for
Not-for-Profit Organizations 455

Chapter 25 Independent Audits 483

Chapter 26 Investments 511