Accounting for Churches

Master the specialized accounting requirements of churches. This course shows you how to record and track large volumes of donations, manage multiple programs, account for significant fixed assets, and comply with unique tax rules. You will also handle payroll, payables, budgeting, month-end closing, document retention, and internal controls. Apply practical guidance to improve accuracy, strengthen oversight, and support transparent financial reporting within a church environment.
Format

PDF Course

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Duration

4 Hours

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Course Information

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 2024
Program Registration Requirements: Click on the Enroll button 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.

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.