1. ACCOUNTING & FINANCE Saturday, July 22, 2017

2. ACCOUNTING BASICS Why do we need to know Accounting?
Reporting Requirements
Transparency

3. ACCOUNTING BASICS What is Cash Accounting?
Recording transactions as they happen
No liabilities (generally)
Isn’t it just a checkbook?
Yes….
….and No

4. Liabilities = What you owe Revenues = Funds Received
ACCOUNTING BASICS
Assets = What you have
Liabilities = What you owe
Revenues = Funds Received
Expenses = Funds Paid Out

5. ASSETS Bank Accounts Checking Savings Fixed Assets
Long-Term (will be used for more than 1 year)
Not common for our groups
Receivables
Someone owes you money 

6. LIABILITIES Not common for our groups Loans or Invoices to be Paid
Not generally recorded until paid

7. REVENUE Funds Received Donations Fundraising Advertising***
ADVERTISING: Special definition for IRS reporting….See the CSB website for more detailed information!

8. EXPENSES Funds Paid Out Program Expenses Fundraising Expenses
Advertising Expenses***
ADVERTISING: Special definition for IRS reporting….See the CSB website for more detailed information!

9. REPORTING REQUIREMENTS
Balance Sheet
Assets & Liabilities
Profit & Loss
Revenues & Expenses
Monthly Expenditure Listing
Checks & Debit Transactions

10. REPORTING REQUIREMENTS
Tax Reporting
Form 990
Form 990-T
AZ Form 99
AZ Form 99-T
Excel Spreadsheet on CSB Website

11. REPORTING REQUIREMENTS
Tax Reporting
Donations – Donors get nothing in return
Fundraising – Donors purchase something
Program – Directly related to program support
Administration – Related to administration of organization
Advertising – Special IRS Definition (Taxable)

12. QUESTIONS….