NFP Reporting and Presentation

Tuesday, March 04, 2025
Webcast or Webinar, Online
2:30 PM - 4:30 PM (opens at 2:00 PM) EST
2Credits
Accounting and Auditing

Registration is Open

Members
$89.00 Regular Price
Non-Members
$119.00 Regular Price

CPE PowerPass Users

Click the "Apply PowerPass" button to use your PowerPass for the applicable course below.
$40.00 Members / $56.00 Non-Members
Course Type: Webcast
Course Code: 24/CX48042
Level: Basic
Vendor: CPA Crossings, LLC
Field of Study: Auditing

Overview:

This CPE course provides an overview and changes with respect to ASU 2016-14 Presentation of Financial Statements and ASU 2016-18 Restricted Cash and Cash Equivalents in Statement of Cash Flows for Not-for-Profit Entities. This course provides common pitfalls and tips on functional expense reporting and, how to manage liquid resources, common peer review findings related to ASU 2016-14, and tips and suggestions on a successful audit. This course also reviews items to consider, given COVID-19, when preparing for an audit and reviewing financial statements. The instructor will explain the key facts and impacts of ASU 2018-08 Clarifying the Scope and Accounting Guidance for Contributions Received and Contributions Made, ASU 2019-03: Updating the Definition of Collections, ASU 2019-06: Extending the Private Company Accounting Alternatives on Goodwill and Certain Identifiable Intangibles to NFP Entities, and ASU 2020-07 Presentation and Disclosures by NFP Entities for Contributed Nonfinancial Assets. Lastly, this course will cover Cybersecurity Issues. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

Objectives:

After attending this presentation, you will be able to...

  • Identify the major components of reporting in not-for profit organizations
  • Determine how to prepare, in accordance with GAAP, the note disclosures for a not-for-profit entity's (NFP)'s financial statements relating to ASU 2016-14 and ASU 2016-18
  • Evaluate going concern and subsequent events resulting from COVID-19
  • Recognize appropriate accounting for recording and recognizing contributions
  • Recognize key facts and impacts of current accounting standard updates

Major Topics:

The major topics covered in this course include:

  • Presentation of NFP financial statements focusing on ASU 2016-14 and ASU 2016-18 with example disclosures
  • Common pitfalls on functional expense reporting
  • Tips to consider on functional expense reporting
  • Ways to manage liquid resources
  • Peer review findings relating to implementation of ASU 2016-14
  • Items to consider when preparing for an audit and reviewing financial statements related to COVID-19 (underwater endowments, liquidity, going concern, subsequent events etc.)
  • Key facts and impacts on current ASUs
  • Cybersecurity issues

Major Topics:

The major topics covered in this course include:

  • Presentation of NFP financial statements focusing on ASU 2016-14 and ASU 2016-18 with example disclosures
  • Common pitfalls on functional expense reporting
  • Tips to consider on functional expense reporting
  • Ways to manage liquid resources
  • Peer review findings relating to implementation of ASU 2016-14
  • Items to consider when preparing for an audit and reviewing financial statements related to COVID-19 (underwater endowments, liquidity, going concern, subsequent events etc.)
  • Key facts and impacts on current ASUs
  • Cybersecurity issues

Designed For:

CPAs who want to know changes in respect to NFP reporting and presentation.

Prerequisites:

None