Upcoming Lecture on Statement of Functional Expenses

I am pleased to announce that I will be speaking in an upcoming Strafford live phone/web seminar, "Statements of Functional Expenses for Non-Profits" scheduled for Wednesday, August 21, 1:00pm-2:50pm EDT.

Donors, government regulators, watchdog agencies and other parties pay close attention to the cost ratios and expense trends unveiled in a non-profit's statement of functional expenses (SFEs). Preparation of an accurate SFE under the applicable standards is crucially important for non-profits and advisors.

A well-designed SFE demonstrates the effectiveness of a non-profit's controls over its administration and fundraising costs. It divides total expenses into program, administrative and fundraising categories, and must meet the terms of FAS 117 and GAAP.

However, correctly preparing an SFE is quite challenging, especially when it comes to categorizing joint program-fundraising costs. Even demonstrated efficiency with certain expenses does not automatically mean the non-profit is poised to accomplish its goals.

Our panel will provide non-profit finance professionals and their advisors with a review of current trends related to the SFE and best practices for creating an effective statement of functional expenses.

We will offer our perspectives and guidance on these and other critical issues:

  • Categorizing a non-profit's expenses.
  • Avoiding common errors in functional reporting.
  • Making defensible decisions on allocating joint costs.
  • Analyzing what the SFE says about the non-profit's expense efficiency.
  • Understanding accounting standards that govern preparation of an SFE.

After our presentations, we will engage in a live question and answer session with participants so we can answer your questions about these important issues directly.

I hope you'll join us.

For more information or to register >

Or call 1-800-926-7926 ext. 10
Ask for Non-Profit Statements of Functional Expenses on 8/21/2013
Mention code: ZDFCT




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Financial Accounting by Mike Elmaleh

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