Learn how to make smarter strategic decisions on program performance with the proper allocation of costs.
Classifying expenses is a time-consuming but necessary process for nonprofit organizations. It is critical for nonprofits to properly measure the resources needed to effectively run their programs and ensure they secure the funding necessary to maintain their sustainability. Having a direct and indirect cost allocation plan is important to determine the cost of operating programs accurately. Cost allocation is the process of assigning costs to a specific functional area in a nonprofit. We will discuss how to identify direct costs and indirect costs, how to establish cost pools, and what bases and methods are allowable to allocate the pooled costs. We will provide real-world examples of how to set up your accounting system to support your allocation plan, provide sample cost allocation reports, report cost allocations for grant reporting, and prepare for audits and your 990. We will also discuss using accepted cost allocation methodologies and how it can help you present your fundraising costs more accurately and what costs qualify for this allocation. We will review a list of nonprofit accounting software applications that provide the ability to perform cost allocations. We will also cover the complicated government regulations for compliance with indirect cost allocation rates.
Learning Objectives
- You will be able to describe the importance of allocating expenses for your nonprofit.
- You will be able to discuss the difference between direct and indirect costs.
- You will be able to identify the proper bases for allocating costs.
- You will be able to explain how to to maximize your funding resources by proper allocation of costs.
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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.
Agenda
| Why Nonprofits Must Allocate Costs | |
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| Different Basis (Methods) of Allocations | |
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| Indirect Cost Rates | |
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| Developing a Cost Allocation Plan | |
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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
Live Webinar Registration
CPE 1.2 including Accounting 1.2
- Noggin Guru, Inc. dba Lorman Education Services and BankersHub is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: www.nasbaregistry.org. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 1.2 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Accounting for 1.2 hours. Prerequisite: basic knowledge of nonprofit governance issues. Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: Group Internet Based. Please refer to the information in this brochure for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board.
Please note: In order to receive CPE credit for this course you MUST use the streaming audio option, as well as enable and complete the required progress checks.
OnDemand Course
This course was last revised on October 26, 2022.
Call 1-866-352-9540 for further credit information.
- CPE/NASBA - QAS Self Study 1.8 including Accounting 1.8
- Noggin Guru, Inc. dba Lorman Education Services and BankersHub is registered with the National Association of State Boards of Accountancy (NASBA) as a QAS Self Study sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: www.nasbaregistry.org. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 1.8 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Accounting for 1.8 hours. Prerequisite: . Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: QAS Self Study. Please refer to the information in this advertisement for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board.
Who should attend?
This live webinar is designed for accountants, executive directors, officers, board members, controllers, CFOs, tax managers, and tax preparers.
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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
Joseph Scarano
Araize, Inc.
- CEO of Araize, Inc., a software company whose sole focus is to provide cost-effective, comprehensive software management solutions to nonprofit organizations
- 10 years of experience as a CPA in a public accounting firm specializing in auditing and consulting nonprofits
- 36 years of experience providing software solutions to nonprofits
- Dedicated to helping nonprofits be more accountable and more sustainable so they can better fulfill their mission
- Has presented at the North Carolina Association of CPAs’ annual conference on various topics related to nonprofit software, accounting, and systems
- B.S. Degree in accounting, Fairfield University
- Can be contacted at [email protected] or 866-840-7449
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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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