Statement of Financial Position: Not-for-Profit Financial Reporting
The Statement of Financial Position is a fundamental financial statement for not-for-profit organizations. This course explains how to prepare and interpret the SFP in accordance with GAAP, including net asset classification, financial statement presentation, and the impact of transactions on financial position.
CPE Credit
1.0 Hours
DELIVERY METHOD
Self-Study (On Demand)
LEVEL
Intermediate, Yellow Book
PREREQUISITES
Basic knowledge of federal taxation recommended
PRICING
$119.50 per year
Course Description
The Statement of Financial Position (SFP) is an essential tool for understanding the financial health of not-for-profit organizations. This course provides a practical approach to preparing and analyzing the SFP in accordance with GAAP, using interactive examples and real-world scenarios to reinforce key concepts.
Participants will learn how to select appropriate financial statement formats based on the complexity of the reporting entity, evaluate how transactions and significant events affect the SFP, and properly classify net assets. The course emphasizes accurate presentation, compliance with accounting standards, and meaningful financial interpretation.
What You’ll Learn
By the end of this course, you will be able to:
- Determine how to prepare a Statement of Financial Position (SFP) in accordance with GAAP
- Identify appropriate financial statement presentation formats
- Analyze the impact of transactions and significant events on the SFP
- Differentiate net asset classifications (with and without donor restrictions)
- Apply best practices for accurate and compliant financial reporting
Who This Course Is For
This course is designed for:
- CPAs and accounting professionals working with not-for-profit organizations
- Financial reporting professionals preparing nonprofit financial statements
- Auditors and consultants involved in NFP financial reporting and compliance
- Professionals seeking to strengthen knowledge of financial position reporting
Key Topics Covered
- Statement of Financial Position (SFP) overview
- GAAP requirements for nonprofit financial statements
- Financial statement presentation formats
- Net asset classifications (with and without donor restrictions)
- Impact of transactions and significant events on financial position
- Interpretation of nonprofit financial position
Why This Course Matters
The Statement of Financial Position provides a snapshot of an organization’s financial health, including its assets, liabilities, and net assets. For not-for-profit organizations, it plays a critical role in communicating financial stability and accountability to stakeholders.
Understanding how to properly prepare and interpret the SFP ensures compliance with GAAP and improves the quality of financial reporting. For additional guidance, refer to AICPA Not-for-Profit resources:
https://www.aicpa-cima.com/topic/not-for-profit
Explore additional Accounting CPE courses to strengthen your expertise in nonprofit financial reporting.
Pricing & Access
$119.50 per year — Unlimited CPE Access
When you enroll, you receive full access to all courses in our catalog for one full year, including this course and every other available offering.
Unlike many CPE providers, we do not charge by the credit hour and we do not impose course expiration dates. Once you’re enrolled:
- All courses are included — no per-course or per-credit fees
- Your access lasts for a full year from your enrollment date
- Your completed course certificates remain available in your portal
- You can complete courses at your own pace, on your own schedule
This single annual enrollment gives you the flexibility to earn CPE hours when you need them — without worrying about expiring credits or additional costs.
Frequently Asked Questions
Is this course NASBA-compliant?
Yes. This course meets NASBA CPE requirements.
How is the course delivered?
On-demand, self-study format with quizzes for knowledge checks.
Can I complete this course at my own pace?
Yes. You may start, stop, and resume the course as needed.
