Not For Profit Financial Reporting

• 1. Statement of Financial Position
• 2. Statement of Operations
• 3. Statement of Changes in Net Assets
• 4. Statement of Cash Flows

• - Optional to record
• - If recorded, must meet "normal" NPO recognition criteria: 
•  - FV can be reasonably estimated
•  - Used in the normal course of operations and would otherwise have been purchased
•  - Record at FV

Lower of cost and current replacement cost

• - Break out by funds - capital assets, endowments, restricted and unrestricted
• - Nature of restrictions on use
• - Amt terms and conditions of interfund loans

Funds are segregated into one or more restricted funds, an endowment fund and unrestricted fund.

• - Amount can be reasonably estimated; and
• - Ultimate collection is reasonably assured
• - Do not record amounts due in more than one year

Record at fair value at date of contribution

• Recognize if  
• - expected future benefits are probable
• - cost can be measured reliably
• Write downs cannot be reversed