Title: Native CDFI Practitioners Financial Management I
Dates: Month DD-DD, YYYY
Time: #:##am-#:##pm
Location: TBD
Description: The Financial Management I course presents an overview of basic accounting concepts used in non-profit accounting. Participants will be introduced to the financial statements of non-profits, generally accepted accounting principles, debits and credits, chart of accounts, and the general ledger. The course will also give participants a foundational understanding of the concepts used to account for current and long-term assets, short and long-term liabilities, and unrestricted and temporarily restricted net assets. This course is a hands-on interactive course and participants will do transaction processing and prepare financial statements.
This multi-day training will cover:
- What is non-profit accounting?
- Mission, Ownership, Tax Exempt Status
- Differences between Non-Profits and For-Profits
- Financial Statements of Nonprofits-Statement of Financial Position, Statement of Activities, Statement of Cash Flow, Net Assets with/without donor restrictions.
- What is financial management?
- GAAP/FASB
- Basic Accounting Principles
- Debits and Credits-accounts, double entry accounting, debits and credits, t-accounts, journal entries, normal balances
- General Ledger and Chart of Accounts
This training is required for the Financial Management Specialization Track of the Native CDFI Practitioner Certification Program.
