The next section of the book about GAAP compliance is more technical (and therefore confusing) than I would like it to be. If you are being audited by an outside organization, then I highly recommend working with a qualified accountant to prepare actual reports in compliance with SFAS 116 and 117.
The reports we have created together are a very good start, but preparing for an audit is an enormous amount of work and nigh impossible without a CPA.
The next section of this book is designed for accountants and for those who already have a good grasp on the rest of the materials within this book. In the next section I’ll be showing you how to make the reports we’ve generated in 1st Church look like the reports found in FAS 117 (pages 49-58).
