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Accounting & Financial Reporting Guide
Table of Contents

Preface
xv

Introduction
xvii

Chapter 1 : Accounting for Christian Ministries
1
Financial Statements
3
Ministry Accomplishments
5
Accrual Basis of Accounting
6
Materiality
8
Fund Accounting
8
Other Comprehensive Bases of Accounting
9

Chapter 2 : Financial Statements and Reporting
13
Required Financial Statements
15
   Statement of Financial Position
15
   Statement of Activities
18
   Statement of Functional Expenses
20
   Statement of Cash Flows
21
   Notes to Financial Statements
22
Comparative Financial Statements
22
Financial Management
24
   Internal Control
25
   Cash Management
27
   Ratios
28

Chapter 3 : Net Assets
31
Net Assets and Fund Accounting
33
Classes of Net Assets
33
Permanently Restricted Net Assets
37
Temporarily Restricted Net Assets
38
Unrestricted Net Assets
40
Reclassification (Transfer) of Net Assets
41
Other Changes in Net Assets
44
   Accounting Changes and Extraordinary Items
44
   Prior Period Adjustments
45
   International Currency Translations
46
   Return of Contributions
46


Chapter 4 : Revenue
47
Contributions
49
   Accounting Principles
51
   Distinguishing Contributions from Purchases/Sales Transactions
51
   Contributions Made
53
   Contributions Received
53
   Unrestricted Support
54
   Donor Restricted Support
54
   Permanently Restricted Support
55
   Temporarily Restricted Support
56
   Change in Temporarily Restricted Net Assets
58
   Direct and Other Designated Gifts
60
      Honoraria and Expense Reimbursements
60
      Personal Gifts
61
      Special Fund-Raising Events
61
   CLASS