Accounting for Grants
Build practical grant accounting expertise across the entire award life cycle. This course shows you how to classify grants, recognize revenue, track restricted resources, budget and allocate costs, manage reimbursements and matching requirements, monitor subrecipients, prepare reports, deal with audits, and much more. The result will be enhanced compliance, reporting accuracy, and grant oversight.
Format
PDF Course
Course Lists
Duration
8 Hours
Course Information
Author: Steven Bragg
Course number: AC1187
Not Acceptable for: Enrolled Agents
Not Acceptable for: Enrolled Agents
Learning Objectives
- Recognize the need for grant accounting procedures.
- Recall the different classifications of grants.
- Recognize the characteristics of donor restrictions.
- Specify the contents of a grant master file.
- Recall the differing revenue recognition treatments for grants.
- Recognize the elements of grants that may be capitalized.
- Recall the situations in which grants may be considered permanent funding.
- Recognize the characteristics of typical cost reimbursement grants.
- Specify the reasons why reimbursement funding may have cash flow risk.
- Recall how to deal with advance cash from grantors.
- Recognize the reasons why portfolio-level grant monitoring is useful.
- Recall the grant reporting requirements under nonprofit and governmental accounting.
- Recognize the requirements for reporting grant revenue by a government entity.
- Specify why prohibited activities should be examined during an award review.
- Recall how to determine the activity date range for a grant.
- Recognize how to evaluate a grant’s termination clause.
- Recall the criteria for recognizing revenue from a grant.
- Specify when to recognize a grant receivable.
- Specify the circumstances under which it makes sense to use a special revenue fund for a grant.
- Recall the typical contents of a grant budget, and the assumptions to use when doing so.
- Recognize how to develop a cash forecast for a grant.
- Recall the ethical considerations related to accepting and employing grant funds.
- Recognize the characteristics of unallowable costs.
- Specify the reasons why an organization should consistently apply similar costs.
- Recall how to construct an indirect-cost allocation base.
- Recognize what to do when a payroll allocation does not reflect reality.
- Recall why payroll charges should be reconciled to payroll records.
- Recognize the impact of open commitments on grant budgets.
- Specify the circumstances under which costs should be accrued.
- Recall the actions to be taken when reviewing a subrecipient invoice.
- Recall the actions that may be taken when grant-funded equipment is no longer needed.
- Recognize the indicators of different types of grant-related fraud.
Level: Overview
Instructional Method: QAS Self-Study
NASBA Category: Accounting
Prerequisites: None
Advance Preparation: Prior knowledge of governmental and nonprofit accounting
Latest Review Date: August 2026
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.