Financial Basics for Non-Profits

The goal of this program is to provide skills training in the areas of non-profit and charity finance, accounting, governance, and best practices.

Introduction to the Non-Profit Sector (2 hours)

Learners will be introduced to the relevance of NFPOs in Canada as well as the key differences between a NFPO and a charity. Participants will learn the financial reporting obligations of a NFPO, as well as begin the process of learning basic accounting topics that apply to non-profit entities (including their own).

Project Accounting (2 hours) 

Learners will be introduced to basic accounting and financial reporting issues relevant to the non-profit sector, including best practices in governance and assurance. Participants will learn how to record revenue transactions using the restricted fund method of revenue recognition, record basic transactions using fund accounting, and provide required disclosure when financial statement are prepared using fund accounting and the restricted fund method of revenue recognition.

Tax Implications and Revenue Transactions (2 hours)

Learners will be introduced to basic GST/HST implications for NFPOs and charities. Tax compliance considerations will also be covered.