Statements of Functional Expenses for Non-Profits
Best Practices for Categorizing and Reporting Expenses Under Accounting Standards
Recording of a 110-minute CPE webinar with Q&A
This teleconference will provide non-profit finance professionals and their advisors with a review of current trends related to the statement of functional expenses (SFEs) and best practices for creating an effective statement of functional expenses.
Standards governing preparation of an SFE
- FAS 117
- Other standards
Categorization of a non-profit's expenses
- Program expenses
- Administrative expenses
- Fundraising expenses
Best practices with SFEs
- Potential scenarios involving allocation of joint costs
- Avoiding tendency to disguise fundraising costs
How outside parties use SFEs
- What is the IRS watching
- What donors are watching
Common errors in functional reporting
- Reporting zero fundraising expenses
- Reporting zero management and general expenses
- Under-reporting overhead expenses
The panel will cover topics like these:
- Categorizing a non-profit's expenses.
- Avoiding common errors in functional reporting.
- Making defensible decisions on allocating joint costs.
- Analyzing what the SFE says about the non-profit's expense efficiency.
- Understanding accounting standards that govern preparation of an SFE.
Following the speaker presentations, you'll have an opportunity to get answers to your specific questions during the interactive Q&A.
Michael Sack Elmaleh
Independent CPA and CVA
He has more than 30 years of public accounting and business appraisal experience, and with non-profit audits. He has... | Read More
He has more than 30 years of public accounting and business appraisal experience, and with non-profit audits. He has authored an accounting text, "Financial Accounting: A Mercifully Brief Introduction," and numerous papers on theory and practice of business appraisal. He maintains a Web site called "Accounting: Mercifully Brief Explanations of Basic Concepts."Close
Catherine Bendall, CPA, PSA, CGMA
WithumSmith + Brown
She specializes in highly complex not-for-profit and governmental audits of many types. She works with various... | Read More
She specializes in highly complex not-for-profit and governmental audits of many types. She works with various agencies funded by federal, state and local sources. She is also familiar with the operations, accounting and reporting of not-for-profit organizations as well as the fiscal policies and procedures surrounding those types of transactions.Close