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Create Effective Statements of Functional Expenses

Understand the elements of the statement of functional expense and how to make it meaningful to your audience.

With the implementation of ASU 2016-14 many nonprofits that did not previously have to present a statement of functional expense are now required to. As a result, many organizations have been tasked with determining how to put together and present the required information. This topic will help you understand the elements of the statement of functional expense and how to make it meaningful to your audience. You will be able to understand the difference between program and supporting services and various methods for allocating costs in accordance with GAAP.

Runtime: 88 minutes
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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Elements of the Statement of Functional Expenses

  • Programs
  • Management and General
  • Fundraising
  • Membership Development

Allocating Costs

  • Direct Costs
  • Non-Program Direct Costs
  • Methods of Allocation

Joint Costs

  • Identifying Joint Costs
  • Requirements for Joint Costs
  • Allocating Joint Costs

Putting It All Together

  • Presentation of Functional Expense Statement
  • Disclosures Associated With the Functional Expenses
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More Program Information

Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

This course was last revised on November 15, 2019.

Call 1-866-352-9540 for further credit information.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Audio & Reference Manual

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

MP3 Download

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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More Program Information

Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Eric Hittle, CPA

Eric Hittle, CPA

Aronson LLC

  • Manager, assurances services at Aronson LLC
  • Seven years of experience in public accounting
  • Specializes in nonprofit accounting
  • Member of AICPA
  • M.A. degree in professional accountancy, Montana State University, Bozeman
  • Can be contacted at 240-364-2721 or [email protected]
Mark Robins, CPA

Mark Robins, CPA

Aronson LLC

  • Partner, assurance services at Aronson LLC
  • Over 10 years of experience in public accounting
  • Specialize in nonprofit financial reporting and auditing
  • Conducts regular seminars and workshops internally and externally on various topics in accounting and auditing
  • Member of the AICPA
  • B.S. degree in accounting, California State University Northridge
  • Can be contacted at 240-364-2645 or [email protected]
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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 399603
Published 2019
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