[Resource] A guide to financial statements for not-for-profit (NFP) organizations (2nd edition)

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Learn how to understand financial statements, a necessary skill for effective oversight of the financial affairs of a not-for-profit organization.

As a director of a not-for-profit organization, you have a personal responsibility to ensure you understand the financial information you receive, as well as the financial implications of your decisions and actions. Designed for NFP directors without a financial background, A Guide to Financial Statements for Not-for-Profit Organizations (2nd Edition) will help you understand the financial statements of the organizations you serve.

This guide will help you understand:

• the role and responsibilities of the board, management and the auditor in financial reporting
• the concepts and terminology of financial reporting in the NFP sector
• the ways in which donations to the organization can be accounted for
• the various financial statements you will encounter in your role as an NFP director

This guide is intended for:

• directors of NFPs who do not have a financial background, and serve on the board of an organization of sufficient size to require a management team and engage the services of an external auditor