Knowledgebase
Special Issues in Nonprofit Financial Reporting: A Guide for Financial Professionals documents substantial problems in the reporting of expenses by functional classification in both audited financial statements and Forms 990. The guide encourages greater focus on this area by public accountants. It documents special problems raised by accounting for capital and in-kind gifts and offers solutions that are in conformance with generally accepted accounting principles. Public accountants have a large role to play in improving the accuracy of nonprofit financial reporting.
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