For accounting and financial professionals working in a nonprofit organization, the Certified Nonprofit Accounting Professional (CNAP) training provides a crash course in every aspect of nonprofit financial management. Program graduates leave with the know-how and action plans they need to make an impact in their organizations right away.
As the only nationally-recognized certification program for nonprofit accounting professionals, the Certified Nonprofit Accounting Professional (CNAP) course offered by FMA covers a lot of ground in three days (or seven online sessions if you choose the web-based course). Designed for professionals on the nonprofit financial management and accounting frontlines, the CNAP curriculum dives deep into nonprofit financial issues. Participants build confidence and gain skills they can immediately leverage to improve their organizations’ financial strength.
Here’s a closer look at what a CNAP course covers and what you and your organization’s entire financial team can take away from the experience:
Explore what it means to be a nonprofit organization.
The course opens up with an in-depth discussion of the nature of nonprofits, the IRS restrictions and classifications that cover them, and the tax laws that apply to these organizations. You’ll get a better sense of both the advantages and the limitations of the nonprofit status.
Identity the roles and responsibilities of governance entities.
You will gain a clear understanding of the responsibilities of the board of directors and the fiscal staff, as well as how the board’s actions impact your organization’s operations. The course covers critical committees every nonprofit needs to establish and explores the relationships and interactions between those committees.
Learn financial reporting rules and best practices.
Dive into Generally Accepted Accounting Principles for nonprofits and the rules that are relevant to your organization. You’ll learn the purpose of various financial statements, becomes well-versed in the lingo, and learn best practices for classifying contributions, tracking restrictions, timing of recognition, and record retention. You’ll learn what an effective fiscal system looks like and how to establish a strong financial infrastructure for your organization.
Develop budgeting processes and techniques.
Learn the qualities of an effective budget and discover the various types of budgets your organization needs to maintain. You’ll develop a budgeting process, explore techniques for managing both expenses and revenues, learn strategies for cost allocation, and gain skills for monitoring and reporting on your budget.
Learn how to develop and maintain internal controls.
The course covers what internal controls are and why they matter to your organization. You’ll gain the expertise to establish policies and procedures for items such as accounting cycles, cash receipts and revenues, and keeping records. And you’ll see how to segregate duties to better protect the financial health of your organization.
Understand the role of audits.
Learn why audits are necessary, what they entail, and how your organization can best prepare. You explore audit requirements and review the latest changes to auditing standards while developing an understanding of audit implications on federal awards and other aspects of your organization.
Build your IRS knowledge.
Become an expert in the IRS Form 990 and the many other pertinent IRS forms. You’ll become well-versed in IRS disclosure requirements and learn which records you must disclose, and when, to avoid IRS penalties.
Exit with an action plan for your organization.
The comprehensive CNAP course builds knowledge and skills across virtually every component of nonprofit financial management. When you obtain the CNAP certification, you’ll leave with new confidence and plans in place to help your nonprofit take the next steps toward improving its financial picture.