What’s the next nonprofit financial management book on the reading list?

Catching up on the latest news in nonprofit accounting and financial management can be a challenge if you’re not sure where to start.

It helps to have some recommendations from those who’ve already covered the ground and who can point you towards trusted resources. It also helps to know what is suitable for your level of proficiency.

So here are seven of our favorite nonprofit financial management books and resources to add to the list for the coming months…

1. AICPA A&A Guide

Each spring, the AICPA releases its updated version of the Not-for-Profit Entities – Audit & Accounting Guide.

Available as a hard copy book, e-book or online subscription, it is likely that you will find this desk reference on the bookshelf (real or virtual) of any nonprofit CPA. It’s also a handy reference for nonprofit bookkeepers, accountants, and financial managers.

The guide is comprehensive in nature and gives detailed discussions of everything from contributions to functional expenses and split interest agreements.

Throughout the guide, there are also references to the underlying authoritative guidance from FASB’s Accounting Standards Codification, the only official source of nonprofit GAAP.

2. The Wiley Not-For-Profit GAAP Guide

The Wiley Not-for-Profit GAAP Guide is for the less-seasoned nonprofit accounting professional.

This annual guide is a user-friendly reference guide, written in plain English. It is updated once per year, provides references to the ASC, and also includes a useful disclosure checklist for preparing nonprofit financial statements.

3.  Recommended nonprofit law blogs

If you’re intimately involved in nonprofit accounting or financial management, you’re well aware of its intersection with nonprofit law.

The Internal Revenue Code and state charity regulations have a significant impact that not only governs how you can receive and spend money but also how you account for and track funds.

To make things more complicated, standards are continually evolving. While nothing is a good substitute for retaining qualified counsel, following the can help alert you to recent changes that may have a significant impact on your organization. We also recommend following the law blog of Adler & Colvin, another nonprofit-specific law firm.

4. YH Advisors newsletter

YH Advisors is headed by Brian Yacker, JD/CPA, who has an extensive background advising nonprofit organizations (and teaching) on various nonprofit tax issues.

His team produces monthly articles, newsletters and webinars, and a blog to help you stay current on various nonprofit tax issues.

5. CSU Nonprofit Management Certificate programs

If you are looking for a live ‘crash course’ in nonprofit financial management, try one of two courses offered by Bay Area CSU campuses: CSU East Bay and San Francisco State University.

Both universities offer a short-term course (approximately 10 hours at SF State or 16 hours at CSUEB) independently, or as part of a nonprofit management certificate program.

While the courses are designed for the non-financial nonprofit professional, they can also be useful for financial professionals with a for-profit background who wish to segue into the nonprofit sector.

Topics covered include: understanding and using nonprofit financial statements, internal controls, financial analysis, budgeting, annual audits and tax issues specific to nonprofit organizations.

6. California Society of CPAs

For those who want more advanced coursework, the Cal CPA Education Foundation offers live conferences and webinars on nonprofit accounting, auditing, the 990, and its popular annual Nonprofit Conference held each May.

7. Compasspoint’s Nonprofit Financial Professionals Network

The Compasspoint Nonprofit Financial Professionals Network is both for networking and professional development.

Hardly anything beats the value you will derive from this. Your annual membership gets you admission to five live events each year and access to the FPN ListServ, where FPN community members exchange questions and ideas online on a wide range of topics.

Do you need more immediate assistance with a nonprofit financial or accounting matter? Contact us on (415) 621-1112 to start a conversation.