Functional expense reporting is one of the more complicated areas of nonprofit U.S. GAAP. This presentation will help individuals understand the elements of the statement of functional expense and how to make it meaningful to your audience. You will be able to understand the difference between program services, supporting activities, and what expenses get allocated in accordance with U.S. GAAP.
– You will be able to define the elements of the statement of functional expenses.
– You will be able to discuss presentation and disclosure.
– You will be able to understand the difference between direct and indirect costs for the purpose of functional expense reporting.
– You will be able to explain how to allocate costs between functions.