Accounting for Associations and Foundations

TEACHING UNIT 1. ACCOUNTING OBLIGATIONS OF ASSOCIATIONS AND FOUNDATIONS. ACCOUNTING PLANS FOR NONPROFIT ORGANIZATIONS. THE CONCEPTUAL FRAMEWORK. 1. The accounting obligations of foundations and associations. The new accounting plans. 2. The Conceptual Accounting Framework TEACHING UNIT 2. ACCOUNTING STANDARDS APPLICABLE TO NON-FINANCIAL FIXED ASSETS. 1. Tangible fixed assets. Application of the general standard. 2. Fixed assets that do not generate cash flows 3. Contribution of fixed assets to the foundation’s endowment 4. Fixed assets transferred without consideration 5. Historical Heritage Assets 6. Intangible fixed assets. Rights of use. 7. R&D expenses. 8. Other Intangible Fixed Assets TEACHING UNIT 3. ACCOUNTING REGULATIONS APPLICABLE TO FINANCIAL FIXED ASSETS AND INVENTORY. 1. Financial Assets 2. Current Assets: Inventory TEACHING UNIT 4. NET EQUITY: FOUNDING CONTRIBUTIONS AND GRANTS. 1. Founding contribution 2. Grants, donations, and bequests 3. Distribution of surpluses: write-off of net losses. TEACHING UNIT 5. REVENUE, EXPENSES, CREDITS, AND DEBITS FROM THE CORE ACTIVITIES OF ASSOCIATIONS AND FOUNDATIONS. 1. Revenues and Expenses from the Core Activities of Non-Profit Legal Entities (ESFL) 2. Credits and Debits from Core Activities TEACHING UNIT 6. ANNUAL FINANCIAL STATEMENTS OF ASSOCIATIONS AND FOUNDATIONS. 1. Rules for Preparing Annual Financial Statements 2. The Balance Sheet 3. The Income Statement 4. Practical Example 5. The Annual Report 6. Information on Activities 7. Action Plan 8. Inventory 9. Mandatory Allocation of Revenue and Income