Select one (1)not-for-profit organization in an area of interest to you and reviewthe financial statements and audit report for the organization. Thefinancial statements and audit report of the not-for-profit organizationshould be readily and publicly available on an active Website.
Write a 650 words in which you:
- Analyzethe selected not-for-profit’s financial statements to determine if thestatements conform to Financial Accounting Standards Board (FASB)guidance in Statement No. 117, Financial Statements of Not-for-ProfitOrganizations (FASB ASC 958-205-45). Explain the selected organization’suse of the three (3) fund categories. Recommend at least two (2) areasof potential interest to the stakeholder concerning the status ofrevenue and expenses.
- Analyze the organization’s statement ofcash flows. Explain the format that the organization utilizes, includingany unique areas of emphasis that differ from-GAAP accounting format.
- Comparethe organization’s reporting of pledges and contributions to itsreporting of exchange transactions. Discuss the funds that are utilized.
- Assessthe fiscal condition of the selected organization utilizing andinterpreting ﬁnancial indicators, using ﬁnancial ratios that are widelyaccepted as being indicative of ﬁscal health. This assessment shouldalso be expanded to include fund-raising analysis, program review,contributions, and grant analysis and revenue analysis.