Select one not-for-profit organization in an area of interest to you and review the financial statements and audit report for the organization. The financial statements and audit report of the not-for-profit organization should be readily and publicly available on an active website.
Write a three- to five-page paper in which you do the following:
- Analyze the selected not-for-profitâ€™s financial statements to determine if the statements conform to Financial Accounting Standards Board (FASB) guidance in Statement No. 117, â€œFinancial Statements of Not-for-Profit Organizationsâ€ (FASB ASC 958-205-45). Explain the selected organizationâ€™s use of the three fund categories. Recommend at least two areas of potential interest to the stakeholder concerning the status of revenue and expenses.
- Analyze the organizationâ€™s statement of cash flows. Explain the format that the organization utilizes, including any unique areas of emphasis that differ from the GAAP accounting format.
- Compare the organizationâ€™s reporting of pledges and contributions with its reporting of exchange transactions. Discuss the funds that are utilized.
- Assess the fiscal condition of the selected organization utilizing and interpreting ï¬nancial indicators, using ï¬nancial ratios that are widely accepted as being indicative of ï¬scal health. This assessment should also be expanded to include fund-raising analysis, program review, contributions, and grant analysis and revenue analysis.
Your assignment must follow these formatting requirements:
- This course requires use of new Strayer Writing Standards (SWS). The format is different than other Strayer University courses. Please take a moment to review the SWS documentation for details.
- Be typed, double-spaced, using Times New Roman font (size 12), with 1-inch margins on all sides; citations and references must follow SWS or school-specific format. Check with your professor for any additional instructions.
- Include a cover page containing the title of the assignment, the studentâ€™s name, the professorâ€™s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.