May 17, 2001 | Read Time: 1 minute
Not-for-Profit GAAP 2001: Interpretation of Generally Accepted Accounting Principles for Not-for-Profit Organizations
by Marie DiTommaso and Richard F. Larkin
This reference guide for financial-statement preparers and auditors discusses accounting and financial-reporting issues that face nonprofit organizations.
During the past few years, the Financial Accounting Standards Board, a private group that establishes U.S. standards for financial accounting and reporting, has made alterations to accounting standards that have caused significant changes in the way nonprofit organizations report their activities, write Marie DiTommaso, founder of DiTommaso & Ruppel, and Richard F. Larkin, technical director for Long Group, in Bethesda, Md. The authors write about those changes and also seek to provide a comprehensive review of other accounting practices that affect nonprofit organizations.
In Part One the authors explain the structure of nonprofit groups from an accounting perspective. Part Two covers basic financial statements, and Part Three discusses specific nonprofit accounting topics, such as net assets, investments, and reporting. Chapters in Part Four focus on specific types of nonprofit accounting, such as that for libraries or for museums. The final section applies general accounting topics, such as long-term debt and leases, to nonprofit organizations. The book contains checklists and an extensive index.
Publisher: John Wiley & Sons, 1 Wiley Drive, Somerset, N.J. 08875; (800) 225-5945; fax (800) 597-3299; http://www.wiley.com; 524 pages; $71.00; I.S.B.N. 0-471-39795-4.
