- Common errors in nonprofit financial statements (e.g., fund misclassification, revenue recognition, or grant reporting) and explain their potential impact on compliance and decision-making. - Real-world examples of financial statement errors to determine root causes (e.g., process gaps, lack of collaboration) and propose corrective actions. - Collaborative workflow between auditors and financial managers to prevent errors, incorporating checklists, communication protocols, or technology tools.
Learning Objectives
- Upon completion of this course, you'll be able to:
- Classify common errors in nonprofit financial statements (e.g., fund misclassification, revenue recognition, or grant reporting) and explain their potential impact on compliance and decision-making.
- Evaluate real-world examples of financial statement errors to determine root causes (e.g., process gaps, lack of collaboration) and propose corrective actions.
- Design a collaborative workflow between auditors and financial managers to prevent errors, incorporating checklists, communication protocols, or technology tools.
Major Topics
- Common errors in nonprofit financial statements (e.g., fund misclassification, revenue recognition, or grant reporting) and explain their potential impact on compliance and decision-making.
- Real-world examples of financial statement errors to determine root causes (e.g., process gaps, lack of collaboration) and propose corrective actions.
- Collaborative workflow between auditors and financial managers to prevent errors, incorporating checklists, communication protocols, or technology tools.
