Introduction to Nonprofit Financial Accounting
with Melisa Galasso, CPA
March 29 | 9:00-10:00 AM CT
Many people shy away from evaluating their nonprofit because they are “not numbers people.” Board members tend to defer to the Treasurer and not do their own due diligence. Executive Directors may over rely on their finance staff and not ask the right questions. This can lead to financial catastrophes for nonprofits including allowing fraud to continue that should have been identified earlier.
In this webinar we will review the different types of nonprofit financial statements to better understand what story each statement is telling the organization. Nonprofits face unique accounting challenges. This course will introduce attendees to the financial statements and unique accounting principles applicable to nonprofit financial accounting. We’ll review key elements of each statement and look at various presentation options. We’ll also review key ratios that can be used by nonprofits to evaluate their financial health.
Attendees will leave the webinar confident in their understanding of the organization’s financial position and operations and with a list of questions to ask.
Key takeaways will include the ability to
- Recall the key financial statements of nonprofit organizations
- Describe the difference between cash basis and accrual accounting
- Identify the elements for each financial statement
- Select KPIs and Ratios to evaluate their own organization
About the Presenter
Melisa F. Galasso is the founder and CEO of Galasso Learning Solutions LLC. A CPA with nearly 20 years of experience in the accounting profession, Melisa designs and facilitates courses in advanced technical accounting and auditing topics, including not-for-profit and governmental accounting.
Melisa is a Certified Speaking Professional, a Certified Professional in Talent Development (CPTD), and has earned the Association for Talent Development Master Trainer™ designation. Her passion for instructional design and adult learning techniques is one of the differentiators that set her apart from other trainers.
She also serves on the FASB’s Not-for-Profit Advisory Committee (NAC) and AICPA Council. She previously served on the AICPA’s Technical Issues Committee (TIC) and is a past Chair of the NCACPA’s A&A committee. Her nonprofit volunteer board experience includes the Virginia Society of CPAs and Girls on the Run Greater Charlotte. In addition, Melisa is the authors of Money Matters for Nonprofits: How Board Members Can Harness the Power of Financial Statements by Understanding Basic Accounting.
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