Not-for-Profit Accounting-Charities, Colleges, & Health Care
What you'll learn
- Evaluate the unique characteristics of not-for-profit organizations, including their legal structure, funding sources, and mission-driven nature.
- Analyze the accounting principles specific to not-for-profit entities, such as fund accounting, revenue recognition, and expense allocation.
- Differentiate between non-governmental and governmental not-for-profit organizations, understanding the key distinctions in financial reporting and compliance
- Apply generally accepted accounting principles (GAAP) to record transactions accurately and prepare financial statements for not-for-profit organizations.
- Compare and contrast the accounting practices in not-for-profit colleges, including both non-governmental and governmental institutions, to gain insights into t
- Evaluate the regulatory framework and tax considerations applicable to not-for-profit organizations, ensuring compliance and understanding the impact on financi
- Interpret financial statements of not-for-profit organizations, including the statement of financial position, statement of activities, and statement of cash fl
- Apply critical thinking skills to analyze complex not-for-profit accounting scenarios, considering ethical considerations and making informed judgments.
- Communicate effectively about not-for-profit accounting concepts, financial statements, and analysis results to stakeholders, employing clear language
- Basic understanding of accounting principles and financial statements, including knowledge of balance sheets, income statements, and cash flow statements.
- An eagerness to learn and apply accounting principles and practices specific to not-for-profit organizations.
- Access to a computer or laptop with internet connectivity to access course materials, participate in online lectures, and complete assignments.
- Motivation and dedication to actively engage in the course, complete exercises and assignments, and seek clarification when needed.
Not for Profit Accounting-Charities, Colleges, & Health Care will cover accounting principles related to not for profit organizations.
Our concentration will be on nongovernmental not-for-profit organizations. However, we will discuss the differences between nongovernmental not for profit organization and governmental not-for-profit organizations. We will also discuss accounting concepts for both governmental and nongovernmental organizations related to health care and colleges.
The course will start by introducing what a not for profit organization is. We will discuss regulation, taxation, and performance issues related to the not for profit organization. As we discuss accounting for not for profit organization, we will make comparisons to for profit organizations, concentrating most of our time on the areas where accounting concepts differ between the two.
Next, we will get into the details of accounting for not for profit organizations, discussing generally accepted accounting principles and the recording of transactions.
We will then take a look at example problems, recoding transactions related to a not for profit organization. We will work through example problems in a presentation format. We will then provide Excel worksheets and step by step instructional videos for learners to apply what they have learned. The Excel worksheets will include two tabs, one with the completed answer, and a second with preformatted worksheets. Learners can enter data into the preformatted worksheets in a step by step process following instructional videos.
Next, we will discuss colleges and universities in detail. We compare and contrast governmental not-for-profit colleges and universities as well as nongovernmental not-for-profit colleges. We will also discuss for-profit colleges.
The course will present example problems in a presentation format and will then provide Excel worksheet and instructional videos so that learners can apply what they have learned.
Next, we will discuss health care organizations in detail. We will consider both governmental health care organizations and nongovernmental health care organizations. The course will present example problems and will then provide practice Excel worksheet and step by step instructional videos so learners can apply what they have learned.
Who this course is for:
- Accounting professionals seeking to specialize in not-for-profit accounting and broaden their knowledge of accounting principles and practices in the sector.
- Finance professionals working in not-for-profit organizations who want to enhance their understanding of financial reporting and compliance requirements.
- Non-profit managers and executives responsible for financial oversight and decision-making, aiming to develop a strong foundation in not-for-profit accounting.
- Students pursuing degrees in accounting, finance, or related fields, who wish to gain specialized knowledge in not-for-profit accounting.
- Board members and volunteers involved in the governance and financial management of not-for-profit organizations.
- Consultants and advisors serving not-for-profit organizations, aiming to deepen their expertise and provide comprehensive financial guidance.
- Individuals interested in the not-for-profit sector, seeking to understand the unique financial challenges and considerations specific to these organizations.
Through working with students from many different schools, Mr. Steele has learned best practices for helping people understand accounting fast. Learning new skills and finding the best way to share knowledge with people who can benefit from it is a passion of his.
Mr. Steele has experience working as a practicing Certified Public Accountant (CPA), an accounting and business instructor, and curriculum developer. He has enjoyed putting together quality tools to improve learning and has been teaching, making instructional resources, and building curriculum since 2009. He has been a practicing CPA since 2005. Mr. Steele is a practicing CPA, has a Certified Post-Secondary Instructor (CPI) credential, a Master of Science in taxation from Golden Gate University, a Bachelor’s Degree in Business Economics with an emphasis in accounting from The University of California Santa Barbara, and a Global Management Accounting Designation (CGMA) from The American Institute of CPA (AICPA).
Mr. Steele has also authored five books that can be found on Amazon or in audiobook format on Audible. He has developed bestselling courses in accounting topics including financial accounting and QuickBooks accounting software.
In addition to working as an accountant, teaching, and developing courses Mr. Steele has helped create an accounting website at accountinginstruction, a YouTube channel called Accounting Instruction, Help, and How Too, and has developed supplemental resources including a Facebook Page, Twitter Page, and Podcasts that can be found on I-tunes, Stitcher, or Soundcloud. Mr. Steele's teaching philosophy is to make content applicable, understandable, and accessible.
Adult learners are looking for application when they learn new skills. In other words, learners want to be able to apply skills in the real world to help their lives. Mr. Steele’s formal accounting education, practical work experience, and substantial teaching experience allow him to create a curriculum that combines traditional accounting education with practical knowledge and application. He accomplishes the goals of making accounting useful and applicable by combining theory with real-world software like Excel and QuickBooks.
Many courses teach QuickBooks data entry or Excel functions but are not providing the real value learners want. Real value is a result of learning technical skills like applications, in conjunction with specific goals, like accounting goals, including being able to interpret the performance of a business.
Mr. Steele makes knowledge understandable by breaking down complex concepts into smaller units with specific objectives and using step by step learning processes to understand each unit. Many accounting textbooks cram way too much information into a course, making it impossible to understand any unit fully. By breaking the content down into digestible chunks, we can move forward much faster.
Mr. Steele also makes use of color association in both presentations and Excel worksheets, a learning tool often overlooked in the accounting field, but one that can vastly improve the speed and comprehension of learning accounting concepts.
The material is also made understandable through the application of concepts learned. Courses will typically demonstrate the accounting concepts and then provide an Excel worksheet or practice problems to work through the concepts covered. The practice problems will be accompanied by an instructional video to work through the problem in step by step format. Excel worksheets will be preformatted, usually including an answer tab that shows the completed problem, and a practice tab where learners can complete the problem along with a step by step presentation video.
Mr. Steele makes learning accounting accessible by making use of technology and partnering with teaching platforms that have a vision of spreading knowledge like Udemy.