Whether you’re a nonprofit executive unfamiliar with the language of financial statements or a seasoned pro, this book is the only guide you’ll need to correctly interpret those critical documents, refresh your skills, and familiarize yourself with the new nonprofit reporting standards introduced in 2016 by the Financial Accounting Standards Board (FASB).

The intent behind the accounting standards update was to improve the clarity and usefulness of nonprofit financial statements. Those who use and prepare these statements, as well as board members fulfilling their fiduciary duty, need guidance on how to implement and interpret the new FASB standards. Written for both audiences, How to Read Nonprofit Financial Statements, Third Edition

• clearly defines accounting terminology and concepts, while offering numerous examples of financial statements reflecting both the old and new FASB standards
• steers you, line by line, through financial reports, providing in-depth explanations of the differences between the old and new standards
• provides numerous illustrations to help you quickly feel at home with the format of nonprofit financial statements
• offers exercises to help you gain insight into the core concepts of nonprofit financial statements and reinforce your command of those concepts

This expanded edition also includes

• a new chapter on reserves, a long-standing challenge for nonprofits
• a new section on general financial analysis, outlining what readers of financial statements should look for to stay informed and satisfy their responsibility, regardless of their role
• a new chapter on benchmarking to help nonprofits measure performance against industry peers

How to Read Nonprofit Financial Statements, Third Edition, is an invaluable resource for anyone who reads, interprets or prepares these all-important documents. Quantity discounts apply during checkout on orders for 10 or more copies, making it more affordable to provide a copy to each of your board members.

Purchased copies of this digital version will be accessed through ASAE Bookshelf. Bookshelf is a digital web- and app-based book platform that provides more tools and accessibility features than a traditional PDF. Once purchased, a link to access the digital book will be available in the Downloads and Subscriptions section of the purchaser’s ASAE online profile. This link is non-transferable and not shareable. It is unique to the purchaser. Users who purchase multiple copies will receive an email with an access code for each copy purchased. Each code can be provided to a single recipient for access. If you wish to purchase a single digital copy for someone else, please contact books@asaecenter.org.

This valuable resource is also available in print.

(2017, ISBN 978-1-118-97669-2, 272 pages, digital book)