Not-For-Profit and

Small Business Entities Certification

This certification will focus on many of the financial and accounting concepts unique to the not-for-profit industry and small businesses.

Brief

Certification
overview video
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Duration: 26.5H
Method: online

Purchase Certification:

$559.00 Credits: 2 - 26.5 hours

Certificate Highlights

Unlike for-profit businesses that exist to generate profits for their owners, nonprofit organizations exist to pursue missions that address the needs of society. Nonprofit organizations serve in a variety of sectors, such as religious, education, health, social services, commerce, amateur sports clubs, and the arts. Nonprofits do not have commercial owners and must rely on funds from contributions, membership dues, program revenues, fundraising events, public and private grants, and investment income. Not-for-profits have unique needs. Concepts such as accounting for public funding, donations, and other sources of revenue and expenditures can present different challenges than in for profit organizations.

Challenges for small business have never been greater. Marketplaces continue to shift, technology continues to grow, and rules of engagement continue to change. Learning about challenges ahead and how to best meet them requires strategic thinking. In a small business, the team is more important than any individual role and everyone has to wear many hats. Approaching the growth challenge from a financial perspective can bring this diverse team together to drive a winning strategy that reduces chaos and positions a company for success.

This certification will focus on many of the financial and accounting concepts unique to the not-for-profit industry and small businesses. We will also discuss the financial statement concepts for not-for-profits and how they vary from those of for-profit businesses. We will also discuss some basic bookkeeping processes related to understanding ledgers, journals and important accounts like payroll, payables, receivables. In addition, we explore concepts of internal controls and segregation of duties that all organizations should be aware of. Lastly, we discuss the importance of cybersecurity and concepts of fraud in today’s NFP and small business industry.

Frequently Asked Questions

FAQs

Why should I be Illumeo Certified?

In short, you would do this to get better at what you already do, or to get a significant knowledge jump on something you want to do for a living. And, via the certificate itself, to be able to show others that you have attained this knowledge.

Why should I hire a Professional with an Illumeo Certification?

You would hire this Professional because they bring deep knowledge, on concrete topics, to your team. Simply completing the Illumeo certification denotes that the person is a serious professional willing to take the time to become very good at what they do, and that they put in the time, passed the tests, and are knowledgeable in their area of certification.

What happens if I fail the exam?

There is an exam for every course and you must pass every one in order to receive your certification. You may re-study the content and re-take any exam until you pass it.

Why would I want a subscription on Illumeo?

A subscription to Illumeo helps fill out your professional knowledge with its unfettered access to hundreds of up-to-date on demand courses taught by long-time practitioners - just like the instructor of this certification program.

Instructor

Lynn Fountain, CPA MBA CGMA CRMA

Consultant, Author, Trainer, and past Chief Audit Executive

Lynn Fountain is widely considered an expert in the field of Sarbanes-Oxley and has led initiatives in compliance efforts. In addition, her expertise in the field has been recognized through her ability to provide individualized training on the legislation and compliance requirements as well as assist organizations in establishing the proper control framework for compliance. Course participants have been quoted as saying: “Ms. Fountain should instruct a PhD in Sarbanes-Oxley Compliance.” Ms. Fountain’s ability to break-down the various aspects of the legislation and communicate its importance in relevant terms is the key to the success of her courses.

15 Courses

1
Introduction to Not-for-Profit Entities
This course introduces basic concepts unique to nonprofit entities.
2
Introduction to Accounting for Not-For-Profit Entities
This course focuses on specific aspects integral to the introduction of accounting for non-profits.
3
Identifying and Implementing the Proper Balance of Internal Controls
This course explores the types of ICs, how they can be properly utilized and the cost benefit considerations for implementation.
4
Segregation of Duties for Core Business Processes
This course examines the business processes and discusses key roles and tasks that should be evaluated for proper segregation of duties.
5
Bookkeeping: Journals, Subsidiary Ledgers and General Ledger
This course examines each of these accounting tools and explain their protocols and how they are integral to the accounting process.
6
Bookkeeping: Payroll And Expenses
This course reviews the many processes involved in payroll management including timekeeping, payroll withholdings, calculating and executing pay.
7
Bookkeeping: Accounts Payable/Accounts Receivable And Receipts
This course focuses on important concepts bookkeepers should be prepared to understand in A/R and A/P.
8
Effectively Managing and Controlling Travel and Entertainment (T&E) Expenses
This course provides insight into how to bring control and intelligent management to your company's T&E expenditures.
9
Management Internal Control Essentials
This course explores the responsibilities incumbent upon all professionals in dealing with internal controls.
10
Financial Statement Essentials for Not-for-Profits
This course is for the non-financial professional who wishes to have a greater understanding of the purpose and use of the financial statements.
11
Not-for-Profit Financial Statements Part 2
This course reviews the new requirements and provide examples on how they will impact the not-for-profit financials.
12
Not for Profit Financials - Focus on Net Assets
This course reviews the new requirements and provides examples on how they will impact the not-for-profit financials.
13
Cyber Risk in Small-Medium Entities
This course teaches you how to understand and be prepared to deal with the multitude of ever-growing cyber threats.
14
Fraud in Small-Medium Entities
This course explores many facets that make fraud in a not-for-profit, governmental or small entity unique from their for-profit counterparts.
15
Not-For-Profit Accountability and Responsibility
This course reviews some leading practices for considering conflict of interest, financial transparency and governance processes for a Not-for-Profit.