Offers examples and case studies that will help you account for common transactions and successfully prepare an NFP's statement of financial position.
Learning Objectives
Determine how to prepare, in accordance with GAAP, a statement of financial position (SFP).;Identify the most appropriate financial statement format, considering the complexity of the entity.;Determine the effect of a particular transaction or significant event on the reporting entity's SFP. ;Distinguish the reporting of net asset classification in the SFP.
Major Topics
Restricted cash;Promises to give;Investments;Assets held in charitable trusts;Endowments;Net assets;Agency liabilities;Obligations under split-interest agreements;Classified financial statements
