Nonprofit Accounting And Auditing Update

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Online registration for this course is now closed. Please contact the Member Service Center at
(800) 342-3197 if you wish to inquire about registering.

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Overview

8.0 Credits
ONLINE

Stay current in the nonprofit world with this comprehensive discussion of recent changes and requirements for nonprofit accounting and auditing. Big changes are coming this year and the following years with revenue recognition and the new leasing standard.
 

Discuss common errors in nonprofit financial statements and audit issues unique to nonprofits, as well as the recently issued financial reporting changes to nonprofits.
 

Objectives

  • Identify requirements for nonprofits under ASU 2016-14.
  • Recognize financial statement presentation requirements for nonprofits.
  • Learn about the new grant accounting guidance in ASU 2018-08.
  • Plan for changes required by the new revenue recognition and lease accounting standards.
  • Consider methodologies for cost allocation for the functional presentation and grant accounting needs.
  • Identify accounting challenges for nonprofits.
  • Identify audit issues unique to nonprofits.

Major Topics

  • Recent changes to financial statement presentation for nonprofit organizations
  • Recent changes in accounting standards: Accounting for contracts and grants, revenue recognition and lease accounting
  • Disclosures
  • Audit issues

Designed For

CPAs, auditors, accountants and financial professionals.

Prerequisite

Familiarity with accounting requirements for nonprofit and generally accepted auditing standards.

Advanced Preparation

None.