IRS Form 1099, 1099-NEC, and Form 1099-MISC: Advanced Issues and Updates

Create Effective Statements of Functional Expenses (OnDemand Webinar)

$149.00

SKU: 411467EAU

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: End Time:

Learning Objectives

Elements of the Statement of Functional Expenses
• Programs
• Management and General
• Fundraising
• Membership Development

Allocating Costs
• Direct Costs
• Non-Program Direct Costs
• Methods of Allocation

Putting It All Together
• Presentation of Functional Expense Statement
• Disclosures Associated With the Functional Expenses

Eric Hittle, CPA-Silver Spring Accounting LLC, Mark Robins, CPA – Aprio, LLP

IRS Form 1099, 1099-NEC, and Form 1099-MISC: Advanced Issues and Updates

Create Effective Statements of Functional Expenses (OnDemand Webinar)

$199.00

SKU: 407315EAU

Description

Understand the elements of the statement of functional expense and how to make it meaningful to your audience.With the implementation of ASU 201614 many nonprofits that did not previously have to present a statement of functional expense are now required to. As a result, many organizations have been tasked with determining how to put together and present the required information. This topic will help you understand the elements of the functional expense schedule 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 information will review what joint costs are and identify the various factors involved in identifying and allocating them. This material will put it all together with schedule examples and a reviews about required disclosures.

Date: 2020-05-29 Start Time: End Time:

Learning Objectives

Elements of the Statement of Functional Expenses
• Programs
• Management and General
• Fundraising
• Membership Development

Allocating Costs
• Direct Costs
• Non-Program Direct Costs
• Methods of Allocation

Joint Costs
• Identifying Joint Costs
• Requirements for Joint Costs
• Allocating Joint Costs

Putting It All Together
• Presentation of Functional Expense Statement
• Disclosures Associated With the Functional Expenses

Eric Hittle, CPA-Silver Spring Accounting LLC, Mark Robins, CPA – Aronson LLC