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Create Effective Statements of Functional Expenses, by Lorman

Create Effective Statements of Functional Expenses is brought to you by Lorman

Understand the elements of the statement of functional expense and how to make it meaningful to your audience.

With the implementation of ASU 2016-14 many nonprofits that did not previously have to present a statement of functional expense are now required to. As a result, many organizations have been tasked with determining how to put together and present the required information. This topic will help you understand the elements of the functional expense schedule and how to make it meaningful to your audience. You will be able to understand the different types of costs methods for allocating costs. This information will review what joint costs are and identify the various factors involved in identifying and allocating them. This material will put it all together with schedule examples and a reviews about required disclosures.

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