GAAP Accounting for Beginners
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About This Webinar
If you’ve been startled by audit adjustments, baffled by accounting terms or called on to explain land trust financial reports to skeptical board members who have read business financials for years but can’t make sense out of yours, this webinar is designed for you. It is likely you have been struggling with GAAP – Generally Accepted Accounting Principles – for nonprofit organizations and challenged by the twists and turns of GAAP requirements for land trusts.
Whether you’re doing the accounting for your land trust or are just trying to understand the confusing rules your accountant insists on following, GAAP Accounting for Beginners will start where you are. Kay Sohl of Kay Sohl Consulting will provide plain language explanations of the most common land trust GAAP challenges, including:
Cash versus Accrual (or “a cruel”) method of accounting.
Recording the receipt and use of restricted gifts.
Purchase and/or contribution of easements.
New rules for recording leases.
Net assets – with and without donor restrictions.
Accounting for board designations.
Endowments and funds held by community foundations to benefit your land trust.
This webinar is included in the 2024 All-Access Pass.
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