Accounting for Churches FLEXCAST
Available Until
Your Desk
4.0 Credits
Member Price $49.00
Non-Member Price $56.00
Overview
The accounting for a church can be fairly difficult, since it must deal with large numbers of donations, track multiple programs, account for significant fixed assets, and work within special taxation rules. In this nonprofit accounting course, we show how to deal with all of these issues, while also covering payroll, payables, budgeting, closing the books, document retention, accounting controls, and much more. In short, this accounting for nonprofits course is your comprehensive reference for how to account for churches.
Highlights
The nonprofit aspects of church accounting. Fund accounting. Net assets. Church chart of accounts. Accounting for offerings. Accounting for payables. Accounting for credit card payments. Accounting for reimbursements. Form 1099 issuances, and more.
Prerequisites
None.
Designed For
CPAs.
Objectives
Recognize the key features of a fund accounting system. Specify the differences between restricted and unrestricted donations. Identify the differences between the cash basis and accrual basis of accounting. Recognize the general ledger accounts that a church might use. Identify the efficiencies that a church bookkeeper could employ. Recognize the church-specific disclosures that might accompany its financial statements. Specify the federal government reporting associated with payments to church suppliers. Identify the requirements to be classified as a minister for tax purposes. Recognize the special tax exemptions and requirements for churches. Specify the federal government reporting forms needed for church employees. State the deposit dates associated with the two types of payroll tax deposit schedules. Identify which costs should be capitalized into church fixed assets. Recognize the budgeting best practices that can be applied to a church. Specify the donor acknowledgment criteria that a church must follow. Identify the options for retaining tax deductibility for pass-through donations. Recognize the controls that can be applied to church accounting systems.
Preparation
None.
Notice
This is a FlexCast (no exam required) and may be viewed only Monday - Saturday, 5am - 5pm PT. You may take up to one year from the date of purchase to complete the course. Pause your FlexCast and resume at a convenient day during the hours above. Partial credit for 2+ credit courses: If you are unable to complete the course in one sitting, partial credit can be awarded (minimum of one credit). To earn the remaining credits, you must return later and start the course from the beginning. Use chat to ask questions of a subject matter expert during the program.
Leader(s):
Leader Bios
Steven Bragg, Western CPE
Steven M. Bragg, CPA, is a full-time book and course author who has written more than 70 business books. He provides Western CPE with self-study courses in the areas of accounting and finance, with an emphasis on the practical application of accounting standards and management techniques. A sampling of his courses include the The New Controller Guidebook, The GAAP Guidebook, Accountants’ Guidebook, and Closing the Books: An Accountant’s Guide. He also manages the Accounting Best Practices podcast.
Steven has been the CFO or controller of both public and private companies and has been a consulting manager with Ernst & Young and an auditor with Deloitte & Touche. He holds an MBA from Babson College, a Master of Finance from Bentley College, and a BA from the University of Maine (summa cum laude).
Non-Member Price $56.00
Member Price $49.00