PPC’s Nonprofit Financial Statement Illustrations and Trends includes example financial statements for more than 20 different nonprofit organizations that include the following types:

• Voluntary health and welfare
• Religious
• Performing arts
• Associations
• Foundations
• Private schools
• Other nonprofit entities

The Trends Survey provides interesting insights into the financial statement presentation policies of nonprofit organizations. This chapter includes results of a nonstatistical sample of the financial statements of more than 50 nonprofit organizations. It describes reporting alternatives that are available to organizations in a GAAP presentation and tracks which alternatives the organizations chose to use in their financial reporting. The Trends Survey also discusses common errors noted during the survey.

The Illustrative Financial Statements section features approximately 200 pages of actual financial statements and illustrative notes for more than 20 different nonprofit organizations. Those statements illustrate presentation alternatives such as comparative financial statements, cash basis statements, multiple-column statements, statements of activities with intermediate measures of operations, and direct and indirect methods of reporting cash flows. The actual illustrative notes include example disclosures for items such as contributions receivable, split-interest agreements, donated services, gifts-in-kind, endowments, and commitments and contingencies.

Benefits

• This is the most comprehensive guidance available of actual, current financial statements and illustrative notes for various types and sizes of nonprofit organizations. We’ve chosen the best example financial statements to illustrate.
• One of the authors is Susan Weiss Budak. Ms. Budak was formerly a project manager at the FASB and currently consults with the FASB, AICPA, and various industry groups. The authors’ experience with nonprofit organizations and expertise with nonprofit accounting literature ensures that the best examples available are included and allows you to use those statements with confidence.
• You can use these real-life examples as a reference to see how other CPAs have taken advantage of the different presentation alternatives allowed or presented unique or difficult accounting transactions. In addition, you can use the illustrative notes to help you find just the right wording.
• This Guide will save you hours of drafting time on your financial statements.