Wiley Not-for-Profit GAAP 2006: Interpretation and Application of Generally Accepted Accounting Principles for Not-for-Profit Organizations (Wiley ... of GenerallyAccepted Accounting Principles) [Paperback]

Richard F. Larkin (Author), Marie DiTommaso (Author)

Book Description

ISBN-10: 0471726915 | ISBN-13: 978-0471726913 | Publication Date: January 23, 2006 | Edition: Revised

Wiley Not-for-Profit GAAP 2006 is a comprehensive, easy-to-use guide to the accounting and financial reporting principles used by not-for-profit organizations. It is written with the needs of the financial statement preparer, user, and attestor in mind. It provides a complete review of the authoritative accounting literature that impacts all types of not-for-profit organizations. At the same time, Wiley Not-for-Profit GAAP 2006 features many examples and illustrations that will assist the reader in applying authoritative literature to real-life situations. Wiley Not-for-Profit GAAP 2006 excels in providing financial statement preparers, users, and attestors with the most comprehensive and usable information because of these features:
* Easy-to-use information that enables the reader to find needed information quickly
* Coverage of accounting principles specifically related to not-for-profit organizations, as well as accounting principles applicable to all types of organizations
* Specific coverage of accounting issues for different types of not-for-profit organizations
* A comprehensive disclosure checklist that helps financial statement preparers, users, and attestors ensure that all disclosures required by GAAP have been considered
* Many examples and illustrations that make putting accounting theory into practice an easy task

This 2006 Edition also includes new information covering:
* AICPA Technical Practice Aid addressing contributions received by a not-for-profit organization that is a fundraising organization for a health care organization
* FASB Statement No. 151, Inventory Costs
* FASB Statement No. 153, Exchanges of Nonmonetary Assets
* FASB Statement No. 154, Accounting Changes and Error Corrections
* New IRS Electronic Filing requirements for not-for-profit organizations

Wiley Not-for-Profit GAAP 2006 strives to be a thorough, reliable reference that you'll use constantly. It's designed to be kept on your desk rather than on your bookshelf.

Editorial Reviews

From the Back Cover

Wiley Not-for-Profit GAAP 2006 is a comprehensive, easy-to-use guide to the accounting and financial reporting principles used by not-for-profit organizations. It is written with the needs of the financial statement preparer, user, and attestor in mind. It provides a complete review of the authoritative accounting literature that impacts all types of not-for-profit organizations. At the same time, Wiley Not-for-Profit GAAP 2006 features many examples and illustrations that will assist the reader in applying authoritative literature to real-life situations. Wiley Not-for-Profit GAAP 2006 excels in providing financial statement preparers, users, and attestors with the most comprehensive and usable information because of these features:

• Easy-to-use information that enables the reader to find needed information quickly
• Coverage of accounting principles specifically related to not-for-profit organizations, as well as accounting principles applicable to all types of organizations
• Specific coverage of accounting issues for different types of not-for-profit organizations
• A comprehensive disclosure checklist that helps financial statement preparers, users, and attestors ensure that all disclosures required by GAAP have been considered
• Many examples and illustrations that make putting accounting theory into practice an easy task

This 2006 Edition also includes new information covering:

• AICPA Technical Practice Aid addressing contributions received by a not-for-profit organization that is a fundraising organization for a health care organization
• FASB Statement No. 151, Inventory Costs
• FASB Statement No. 153, Exchanges of Nonmonetary Assets
• FASB Statement No. 154, Accounting Changes and Error Corrections
• New IRS Electronic Filing requirements for not-for-profit organizations

Wiley Not-for-Profit GAAP 2006 strives to be a thorough, reliable reference that you'll use constantly. It's designed to be kept on your desk rather than on your bookshelf.

About the Author

Richard F. Larkin is technical director of not-for-profit accounting and auditing for BDO Seidman, LLP, in Bethesda, Maryland. Previously he was the technical director of the not-for-profit Industry Services Group in the national office of PricewaterhouseCoopers. he is a certified public accountant with over thirty-seven years of experience serving not-for-profit organizations as independent accountant, board member, treasurer, and consultant. He teaches, speaks, and wirte4s extensively on not-for-profit industry matters and is active in many professional and industry organizations. He has been a member of the Financial Accounting Standards Board Not-for-Profit Advisory Task Force and the AICPA Not-for-Profit Organizations Committee, and chaired the AICPA Not-for-Profit Audit Guide Task Force. He participated in writing both the third and fourth editions of Standards of Accounting and Financial reporting for Voluntary Health and Welfare Organization,s and the AICPA Practice Aid, Financial  Statement Presentation and Disclosure Practices for Not-for-Profit Organizations. He graduated from Harvard College and ha an MBA from Harvard Business School. He is a coauthor of the fourth, fifth, and sixth editions of Financial and Accounting Guide for Not-for-Profit Organizations, which were published by John Wiley & Sons, Inc.

Marie DiTommaso, CPA, is a partner in the firm of DiTommaso and Ruppel, CPAs, which she cofounded. She has over twenty years of experience in accounting and financial reporting in both the not-for-profit and commercial accounting environments. She began her career with KPMG after graduating from Queens College of the City University of New York. Later in her career, she joined the American Express Company and then Dun & Bradstreet Corporation, both to develop, write, and implement accounting policies and procedures. After leaving these corporate organizations, Ms. DiTommaso served as the chief financial officer of a not-for-profit organization.

Ms. DiTommaso is a member of the American Institute of Certified Public Accountants. She has served as President of the Bergen County Chapter of the New Jersey Women Business Owners Association, and as an advisor to its Board of Directors.

Product Details

• Paperback: 504 pages
• Publisher: Wiley; Revised edition (January 23, 2006)
• Language: English
• ISBN-10: 0471726915
• ISBN-13: 978-0471726913
• Product Dimensions: 9.2 x 7.5 x 1.2 inches
• Shipping Weight: 2 pounds
• Average Customer Review: 4.3 out of 5 stars  See all reviews (3 customer reviews)
• Amazon Best Sellers Rank: #2,524,546 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews

4 of 4 people found the following review helpful:

4.0 out of 5 stars GAAP specific to non-profits, January 20, 2008

By 

W Boudville (Terra, Sol 3) - See all my reviews
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This review is from: Wiley Not-for-Profit GAAP 2007: Interpretation and Application of Generally Accepted Accounting Principles for Not-for-Profit Organizations (Wiley ... of GenerallyAccepted Accounting Principles) (Paperback)

Yes, it is 2008. But don't take the 2007 in the book's title too literally. The guidelines in the book are extremely unlikely to change in this year. The book is aimed as readers in US charities and other non-profit organisations. Describing in straightforward fashion how to do your books under GAAP. There is a presumption that you, the reader, are already a bookkeeper or accountant and are already familiar with the basics of bookkeeping.

The book goes into aspects of GAAP that are likely pertinent to many non-profits. Like how to deal with an endowment. Or if a person comes to you and wants to establish a trust that would give distributions to that person while she is alive. And then, after her death, the trust's assets revert to your organisation. These and many other common situations for many established non-profits are well described.

2 of 2 people found the following review helpful:

4.0 out of 5 stars Great source of information!, March 14, 2009

By 

Blackbird "Kat" (Austin, TX) - See all my reviews

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This review is from: Wiley Not-for-Profit GAAP 2009: Interpretation and Application of Generally Accepted Accounting Principles (Wiley Not-For-Profit GAAP: Interpretation ... of GenerallyAccepted Accounting Principles) (Paperback)

So far I have found this to be an excellent source of information on non-profit GAAP. The book is easy to read and is very thorough.

3 of 4 people found the following review helpful:

5.0 out of 5 stars Excellent Resource for NPO Auditors and Accountants, July 3, 2009

By 

Sanjay Agarwal (India) - See all my reviews
(REAL NAME)   

This review is from: Wiley Not-for-Profit GAAP 2009: Interpretation and Application of Generally Accepted Accounting Principles (Wiley Not-For-Profit GAAP: Interpretation ... of GenerallyAccepted Accounting Principles) (Paperback)

I bought the 2001 edition of this book, and found it to be well-organised, and with a clear presentation. It is obviously intended for accountants and practitioners. Topic are explained with a significant amount of detail, so the size of the book is rather large. If you would like something more handy, look for the pocket book edition.

I came back to this page, since my edition is now eight yers old. Well, this one doesn't seem to be much different - which just goes to prove that accounting doesn't change at the same pace as Information Technology. It has the same chapter headings, and the text also appears to be broadly the same.

The printing and the type face is fine for people over 40. My edition is on genuine acid-free paper, and hasn't yellowed so far.

A good investmen if you are involved in NPO accounting or auditing.