Accounting Non-Profit Organization Practice Exam
Accounting Non-Profit Organization Practice Exam
About Accounting Non-Profit Organization Exam
The Accounting – Non-Profit Organization Exam evaluates a candidate’s ability to manage financial processes specific to non-profit entities. It focuses on fund accounting, grant tracking, donor reporting, compliance with non-profit standards, and financial stewardship. This exam is ideal for professionals working with charities, foundations, associations, and NGOs.
Who should take the Exam?
This exam is ideal for:
- Accountants and bookkeepers working in non-profit organizations
- Financial analysts and compliance officers in NGOs
- Students specializing in non-profit management or public accounting
- Grant managers and donor relations coordinators
- Non-profit board members or administrators handling financial oversight
Skills Required
- Basic accounting and financial reporting knowledge
- Familiarity with non-profit structure and funding sources
- Attention to compliance and donor accountability
- Strong ethical and organizational skills
Knowledge Gained
- Mastery of fund accounting principles and financial reporting in non-profits
- Understanding donor restrictions, grant management, and financial compliance
- Ability to prepare and interpret financial statements for stakeholders
- Skills to track, allocate, and report on restricted and unrestricted funds
Course Outline
The Accounting Non-Profit Organization Exam covers the following topics -
Domain 1 – Introduction to Non-Profit Accounting
- Differences between for-profit and non-profit financial structures
- Objectives and regulatory environment for non-profits
- Overview of non-profit financial reporting
Domain 2 – Fund Accounting Basics
- Understanding fund categories: unrestricted, temporarily restricted, permanently restricted
- Journal entries for fund transactions
- Fund transfers and balances
Domain 3 – Revenue Recognition and Donations
- Accounting for grants, pledges, contributions, and fundraising income
- Donor restrictions and conditional vs. unconditional donations
- In-kind donations and volunteer service valuation
Domain 4 – Budgeting and Internal Controls
- Developing program and organization-wide budgets
- Variance analysis and financial forecasting
- Implementing internal controls for financial accountability
Domain 5 – Financial Reporting for Non-Profits
- Statement of Financial Position, Activities, and Cash Flows
- Functional expense reporting by program, admin, and fundraising
- Reporting to stakeholders, donors, and government agencies
Domain 6 – Regulatory Compliance and Audit
- IRS Form 990 and other regulatory requirements
- Governance policies and fiduciary responsibilities
- Non-profit audit preparation and external audit expectations
