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Live Webinar

90-minute live streaming program
  • November 15
  • 1:00 - 2:30 pm EST

Also available as:

OnDemand Webinar

Create Effective Statements of Functional Expenses

November 15

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.

Learning Objectives

  • You will be able to define the elements of the statement of functional expenses.
  • You will be able to discuss presentation and disclosure.
  • You will be able to explain how to allocate costs between functions.
  • You will be able to identify joint costs.

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Why Lorman?

Over 32 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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Why Lorman?

Over 32 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 June 23, 2016.

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

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

Live Webinar Registration

  • CPE 1.8 including Accounting 1.8
     
  • Lorman Education Services is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: https://www.nasbaregistry.org/cpas/complaints. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 1.8 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Accounting for 1.8 hours. Prerequisite: basic knowledge of nonprofit governance issues. Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: Group Internet Based. Please refer to the information in this brochure for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board. Please note: In order to receive CPE credit for this course you MUST use the streaming audio option, as well as enable and complete the required progress checks.
     
  • Lorman Business Center, Inc. is a registered provider for CPA CPE through the State Education Department of New York, Sponsor number: 000640. The following course will carry the subject area of Accounting for 1.5 hours.
     

Who should attend?

This live webinar is designed for accountants, CPAs, executive directors, officers, controllers, CFOs, and tax managers.

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Why Lorman?

Over 32 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

  • Senior associate, assurances services at Aronson LLC
  • Six 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

  • Director, 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 32 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.

All of your training, right here at Lorman.

Pay once and get a full year of unlimited training in any format, any time!

  • Live Webinars
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  • State Specific Credit Tracker
  • Members Only Newsletter
  • All-Access Pass Course Concierge

* For audio recordings you only pay shipping

Questions? Call 877-296-2169 to speak with a real person.

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Product ID: 399603
Published 2016, 2019
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