Accounting for Churches (CPE Course)

CPE Credit: 4 hours

Course Type: Downloaded PDF materials with online test

Price (with PDF Textbook): $45

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Course Description
The accounting for a church can be fairly difficult, since it must deal with large numbers of donations, track multiple programs, account for significant fixed assets, and work within special taxation rules. In the Accounting for Churches course, we show how to deal with all of these issues, while also covering payroll, payables, budgeting, closing the books, document retention, accounting controls, and much more. In short, this course is the comprehensive reference for how to account for churches.

 

Author: Steven Bragg

Course Number: AC1139

Table of Contents

Chapter 1. The Essentials of Church Accounting
Chapter 2. Specific Accounting Transactions
Chapter 3. Tax Issues for Churches
Chapter 4. Accounting Controls

Learning Objectives

  • Recognize the key features of a fund accounting system.

  • Specify the differences between restricted and unrestricted donations.

  • Identify the differences between the cash basis and accrual basis of accounting.

  • Recognize the general ledger accounts that a church might use.

  • Identify the efficiencies that a church bookkeeper could employ.

  • Recognize the church-specific disclosures that might accompany its financial statements.

  • Specify the federal government reporting associated with payments to church suppliers.

  • Identify the requirements to be classified as a minister for tax purposes.

  • Recognize the special tax exemptions and requirements for churches.

  • Specify the federal government reporting forms needed for church employees.

  • State the deposit dates associated with the two types of payroll tax deposit schedules.

  • Identify which costs should be capitalized into church fixed assets.

  • Recognize the budgeting best practices that can be applied to a church.

  • Specify the donor acknowledgment criteria that a church must follow.

  • Identify the options for retaining tax-deductibility for pass-through donations.

  • Recognize the controls that can be applied to church accounting systems.

Level: Overview

Instructional Method: QAS Self-Study

NASBA Category: Accounting

Prerequisites: None

Advance Preparation: None

Latest Review Date: May 2023

Program Registration Requirements: Click on "Purchase Course" near the top of this page to pay for and access the course. You will then be able to download the course as a PDF file, then take an on-line examination, and then download a certificate of completion if you pass the examination.

Program Refund Policy: For more information regarding administrative policies concerning complaints, refunds, and other matters, see our policies page.

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AccountingTools, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have the final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

The NASBA sponsor identification number for Accountingtools, Inc. is 115881.

AccountingTools is an IRS Approved Continuing Education Provider. We are compliant with the requirements for continuing education providers (as described in sections 10.6 and 10.9 of the Department of Treasury’s Circular No. 230 and in other IRS guidance, forms, and instructions). Our IRS Approved Continuing Education Provider number is 72821.