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.
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Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
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
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on July 31, 2024.
Call 1-866-352-9540 for further credit information.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
MP3 Download
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Eric Hittle, CPA
Silver Spring Accounting LLC
- Principal, Silver Spring Accounting LLC
- Focus on outsourced accounting and advisory services for nonprofits
- Conducts webinars with ASAE, Lorman, and various firm and client-sponsored training
- AICPA, Maryland Nonprofits
- Master of Professional Accountancy
- Can be contacted at [email protected] or 406-209-7472
Mark Robins, CPA
Aprio, LLP
- Partner, Assurance Services at Aprio, LLP
- Over 15 years of experience in public accounting
- Specializes in nonprofit financial reporting and auditing
- Conducts regular seminars and workshops internally and externally on various topics in accounting and auditing
- Member of the AICPA
- B.S. degree in accounting, California State University Northridge
- Can be contacted at 240-364-2645 or [email protected]
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
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