Description
Understand the elements of the statement of functional expense and how to make it meaningful to your audience.
Functional expense reporting can be complex. Organizations are tasked with tracking expenses by natural account and function. Certain expenses are directly assigned to a specific function, while others may indirectly relate to multiple functions. This topic will help you understand the elements of the statement of functional expenses and how to make it meaningful to your audience. You will be able to understand the different types of costs methods for allocating costs. This material will put it all together with schedule examples and a review about required disclosures.
Date: 2024-07-31 Start Time: 1:00 PM ET End Time: 2:05 PM ET
Learning Objectives
* You will be able to define the elements of the statement of functional expenses.
* You will be able to discuss presentation and disclosure.
* You will be able to explain how to allocate costs between functions.
* You will be able to review schedule examples.